VEON (NASDAQ:VEON) Shares Gap Down to $23.07

VEON Ltd. (NASDAQ:VEON) gapped down before the market opened on Wednesday . The stock had previously closed at $23.07, but opened at $22.57. VEON shares last traded at $22.46, with a volume of 2,511 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut VEON from a “buy” rating to a “hold” rating in a research note on Wednesday.

VEON Price Performance

The firm’s 50 day moving average price is $24.13 and its two-hundred day moving average price is $20.70. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.97 and a current ratio of 0.97.

Hedge Funds Weigh In On VEON

Several hedge funds have recently made changes to their positions in VEON. JPMorgan Chase & Co. grew its stake in shares of VEON by 8.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,220,547 shares of the Wireless communications provider’s stock worth $833,000 after acquiring an additional 92,065 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of VEON by 85.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 68,681 shares of the Wireless communications provider’s stock worth $49,000 after acquiring an additional 31,706 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of VEON during the 1st quarter worth approximately $153,000. Vontobel Holding Ltd. bought a new position in shares of VEON during the 1st quarter worth approximately $48,000. Finally, Allianz Asset Management GmbH grew its stake in shares of VEON by 1,979.1% during the 1st quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock worth $3,754,000 after acquiring an additional 5,234,162 shares in the last quarter. 21.30% of the stock is owned by institutional investors.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.