VEON (NASDAQ:VEON) Shares Pass Above Two Hundred Day Moving Average of $20.83

VEON Ltd. (NASDAQ:VEON) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.83 and traded as high as $23.95. VEON shares last traded at $23.61, with a volume of 15,937 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com lowered VEON from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.

VEON Stock Performance

The firm’s fifty day simple moving average is $24.20 and its 200 day simple moving average is $20.83. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.55.

Institutional Investors Weigh In On VEON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shah Capital Management bought a new position in shares of VEON in the 4th quarter valued at $97,544,000. Helikon Investments Ltd grew its position in VEON by 88.4% in the fourth quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock valued at $38,258,000 after acquiring an additional 910,948 shares during the last quarter. Wellington Management Group LLP raised its stake in VEON by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock worth $10,645,000 after acquiring an additional 44,013 shares in the last quarter. Monaco Asset Management SAM lifted its holdings in shares of VEON by 138.0% in the fourth quarter. Monaco Asset Management SAM now owns 23,800 shares of the Wireless communications provider’s stock worth $469,000 after acquiring an additional 13,800 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of VEON by 10.1% in the 4th quarter. Gabelli Funds LLC now owns 109,040 shares of the Wireless communications provider’s stock valued at $2,148,000 after purchasing an additional 10,000 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors.

About VEON

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.