VEON (NASDAQ:VEON) Trading Down 4.8% – Time to Sell?

by · The Cerbat Gem

Shares of VEON Ltd. (NASDAQ:VEON – Get Free Report) fell 4.8% on Wednesday . The company traded as low as $49.44 and last traded at $49.49. 34,482 shares were traded during trading, a decline of 80% from the average session volume of 169,412 shares. The stock had previously closed at $51.99.

Analyst Upgrades and Downgrades

VEON has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of VEON in a research note on Tuesday, November 25th. Wall Street Zen downgraded shares of VEON from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Check Out Our Latest Research Report on VEON

VEON Stock Down 4.0%

The company’s 50 day simple moving average is $50.58 and its 200-day simple moving average is $51.21. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 2.45. The firm has a market cap of $3.45 billion, a P/E ratio of 5.67 and a beta of 1.58.

VEON (NASDAQ:VEON – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.07). VEON had a net margin of 15.26% and a return on equity of 58.72%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion.

VEON declared that its board has authorized a stock repurchase plan on Monday, November 17th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of VEON

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares during the last quarter. Samson Rock Capital LLP purchased a new position in shares of VEON in the second quarter worth approximately $138,000. Truist Financial Corp purchased a new stake in VEON during the third quarter valued at approximately $208,000. Personal CFO Solutions LLC purchased a new stake in VEON during the third quarter valued at approximately $208,000. Finally, Burns Matteson Capital Management LLC bought a new position in VEON in the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

(Get Free Report)

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.

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