VEON (NASDAQ:VEON) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of VEON Ltd. (NASDAQ:VEON) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $57.98 and traded as high as $84.50. VEON shares last traded at $82.18, with a volume of 116,998 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VEON. Cantor Fitzgerald started coverage on shares of VEON in a research report on Friday, October 2nd. They set an “overweight” rating and a $112.00 price target on the stock. Northland Securities set a $85.00 price objective on shares of VEON and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of VEON from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, VEON presently has an average rating of “Moderate Buy” and an average target price of $90.33.

VEON Stock Performance

The company has a market cap of $6.08 billion, a P/E ratio of 96.69 and a beta of 1.62. The company’s 50-day moving average is $68.69 and its two-hundred day moving average is $58.21. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same quarter in the previous year, the firm posted $8.30 earnings per share. Equities analysts predict that VEON Ltd. will post 7.39 EPS for the current year.

Insider Activity

In other news, Director K II purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $56.02 per share, with a total value of $280,100.00. Following the transaction, the director directly owned 96,000 shares of the company’s stock, valued at approximately $5,377,920. This represents a 5.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in VEON during the second quarter worth about $170,000. Crossmark Global Holdings Inc. purchased a new position in VEON in the 3rd quarter valued at approximately $243,000. Personal CFO Solutions LLC grew its stake in VEON by 14.4% in the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock valued at $217,000 after buying an additional 592 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock worth $386,000 after acquiring an additional 500 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of VEON by 64.1% during the first quarter. Lazard Asset Management LLC now owns 7,597 shares of the Wireless communications provider’s stock worth $352,000 after acquiring an additional 2,967 shares in the last quarter. Institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd. is a global digital communications and services company that provides mobile connectivity, fixed broadband, and digital products to consumers and businesses. The company operates through a portfolio of local telecommunications brands, offering voice and messaging services, mobile data, broadband access, and related enterprise solutions.

VEON’s principal operating brands include Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline-branded businesses in Kazakhstan, Uzbekistan, and Kyrgyzstan.