VEON (NASDAQ:VEON) Rating Increased to Buy at BidaskClub
VEON has been the subject of several other research reports. Zacks Investment Research cut VEON from a buy rating to a hold rating in a research note on Thursday, May 30th. UBS Group raised VEON from a neutral rating to a buy rating and set a $3.00 target price for the company in a research note on Monday, June 17th. Finally, ValuEngine raised VEON from a hold rating to a buy rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $3.20.
Shares of VEON opened at $2.81 on Friday. VEON has a 1 year low of $2.07 and a 1 year high of $3.14. The company has a market capitalization of $5.01 billion, a P/E ratio of -12.22 and a beta of 1.69. The business’s 50-day moving average is $2.44.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of VEON by 8.6% in the 1st quarter. FMR LLC now owns 219,193 shares of the Wireless communications provider’s stock worth $458,000 after purchasing an additional 17,387 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of VEON by 20.6% in the 1st quarter. Nordea Investment Management AB now owns 962,000 shares of the Wireless communications provider’s stock worth $2,011,000 after purchasing an additional 164,000 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of VEON by 2,866.4% in the 1st quarter. Marshall Wace North America L.P. now owns 1,042,217 shares of the Wireless communications provider’s stock worth $2,178,000 after purchasing an additional 1,007,083 shares in the last quarter. Key Square Capital Management LLC purchased a new position in shares of VEON in the 1st quarter worth about $1,614,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of VEON in the 1st quarter worth about $62,000. 16.22% of the stock is owned by institutional investors and hedge funds.
VEON Company Profile
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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