VEON (NASDAQ:VEON) Lowered to “Hold” at StockNews.com

VEON (NASDAQ:VEON) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

VEON Stock Performance

VEON stock traded down $0.09 during mid-day trading on Tuesday, hitting $26.30. 10,666 shares of the company’s stock were exchanged, compared to its average volume of 34,104. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.55. VEON has a 1-year low of $14.50 and a 1-year high of $27.90. The stock has a 50 day moving average of $25.11 and a two-hundred day moving average of $22.97.

Hedge Funds Weigh In On VEON

Several hedge funds have recently bought and sold shares of the business. Helikon Investments Ltd grew its position in shares of 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 purchasing an additional 910,948 shares during the last quarter. Shah Capital Management acquired a new stake in VEON during the fourth quarter worth about $97,544,000. National Bank of Canada FI acquired a new stake in VEON during the fourth quarter worth about $50,000. Barclays PLC grew its position in VEON by 37.0% during the third quarter. Barclays PLC now owns 5,920 shares of the Wireless communications provider’s stock worth $115,000 after buying an additional 1,600 shares in the last quarter. Finally, Monaco Asset Management SAM grew its position in VEON by 138.0% during the fourth quarter. Monaco Asset Management SAM now owns 23,800 shares of the Wireless communications provider’s stock worth $469,000 after buying an additional 13,800 shares in the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.