StockNews.com Initiates Coverage on VEON (NASDAQ:VEON)

StockNews.com initiated coverage on shares of VEON (NASDAQ:VEONGet Rating) in a report published on Monday. The firm issued a strong-buy rating on the Wireless communications provider’s stock.

VEON Stock Performance

Shares of VEON stock opened at $0.47 on Monday. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.60 and a current ratio of 0.62. The company has a market capitalization of $813.35 million, a P/E ratio of 2.25 and a beta of 1.40. The company’s 50 day moving average price is $0.36 and its two-hundred day moving average price is $0.43. VEON has a 52 week low of $0.24 and a 52 week high of $1.85.

Institutional Trading of VEON

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in VEON by 0.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,651,406 shares of the Wireless communications provider’s stock worth $3,176,000 after buying an additional 30,493 shares during the period. UBS Group AG raised its holdings in VEON by 22.6% during the 3rd quarter. UBS Group AG now owns 171,685 shares of the Wireless communications provider’s stock worth $55,000 after buying an additional 31,678 shares during the period. Great West Life Assurance Co. Can raised its holdings in VEON by 85.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 68,681 shares of the Wireless communications provider’s stock worth $49,000 after buying an additional 31,706 shares during the period. Mandatum Life Insurance Co Ltd acquired a new stake in shares of VEON in the first quarter valued at approximately $25,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of VEON in the first quarter valued at approximately $28,000. 17.02% of the stock is currently owned by institutional investors and hedge funds.

About VEON

(Get Rating)

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice, data, and other telecommunication services through a range of wireless, fixed, and broadband internet services. The company provides value-added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; wireless internet access; and mobile bundles and call completion services.

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