VEON (NASDAQ:VEON) Stock Price Down 3.5% – Time to Sell?

VEON Ltd. (NASDAQ:VEON)’s stock price was down 3.5% during mid-day trading on Wednesday . The stock traded as low as $29.98 and last traded at $30.20. Approximately 7,114 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 30,699 shares. The stock had previously closed at $31.30.

Wall Street Analyst Weigh In

Separately, StockNews.com raised VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th.

VEON Trading Down 4.6 %

The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66. The stock’s 50 day moving average is $28.40 and its 200 day moving average is $26.39.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter. The firm had revenue of $1.03 billion during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of VEON by 8.9% in the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock worth $10,645,000 after purchasing an additional 44,013 shares during the period. Gabelli Funds LLC increased its holdings in VEON by 18.8% in the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock valued at $3,109,000 after buying an additional 20,456 shares during the period. Helikon Investments Ltd raised its position in shares of VEON by 30.4% in the 1st quarter. Helikon Investments Ltd now owns 2,533,075 shares of the Wireless communications provider’s stock valued at $60,819,000 after buying an additional 591,060 shares in the last quarter. Samson Rock Capital LLP bought a new stake in shares of VEON during the 3rd quarter worth approximately $913,000. Finally, Lingotto Investment Management LLP lifted its holdings in shares of VEON by 1.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after acquiring an additional 53,807 shares during the period. 21.30% of the stock is owned by institutional investors.

VEON Company Profile

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.