BidaskClub Lowers VEON (NASDAQ:VEON) to Sell
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut VEON from a hold rating to a sell rating in a research note on Friday, September 13th. Sberbank CIB cut VEON from a buy rating to a hold rating in a research note on Thursday, September 12th. UBS Group upgraded VEON from a neutral rating to a buy rating and set a $3.00 price objective on the stock in a research note on Monday, June 17th. ValuEngine raised VEON from a hold rating to a buy rating in a research report on Tuesday, May 28th. Finally, Bank of America raised VEON from a neutral rating to a buy rating and set a $3.17 target price on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $3.19.
Shares of VEON opened at $2.41 on Thursday. The stock’s 50-day moving average is $2.62 and its two-hundred day moving average is $2.55. The stock has a market cap of $4.22 billion, a PE ratio of -10.48 and a beta of 1.87. VEON has a 12 month low of $2.07 and a 12 month high of $3.28. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.61 and a quick ratio of 0.58.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its position in shares of VEON by 68.9% during the second quarter. Morgan Stanley now owns 53,337,524 shares of the Wireless communications provider’s stock worth $149,344,000 after acquiring an additional 21,762,727 shares during the last quarter. Exor Investments UK LLP increased its position in shares of VEON by 14.3% during the first quarter. Exor Investments UK LLP now owns 43,054,134 shares of the Wireless communications provider’s stock worth $89,983,000 after acquiring an additional 5,396,342 shares during the last quarter. TT International purchased a new stake in shares of VEON during the second quarter worth about $64,410,000. Polunin Capital Partners Ltd purchased a new stake in shares of VEON during the second quarter worth about $21,902,000. Finally, Acadian Asset Management LLC increased its position in shares of VEON by 64.0% during the first quarter. Acadian Asset Management LLC now owns 5,765,425 shares of the Wireless communications provider’s stock worth $12,051,000 after acquiring an additional 2,250,828 shares during the last quarter. 17.72% of the stock is currently owned by institutional investors and hedge funds.
VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.
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