VEON (NASDAQ:VEON) Cut to Sell at BidaskClub

VEON (NASDAQ:VEON) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday, March 27th, BidAskClub reports.

A number of other brokerages have also issued reports on VEON. Zacks Investment Research lowered shares of VEON from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. ValuEngine lowered shares of VEON from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, VTB Capital lowered shares of VEON from a “buy” rating to a “hold” rating and set a $2.80 price target for the company. in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.27.

Shares of NASDAQ:VEON traded up $0.08 during midday trading on Wednesday, reaching $2.36. The company had a trading volume of 9,496,024 shares, compared to its average volume of 11,814,700. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 2.36. The firm has a market cap of $4.15 billion, a PE ratio of -10.26 and a beta of 1.79. VEON has a one year low of $2.07 and a one year high of $3.14.

A number of hedge funds have recently added to or reduced their stakes in VEON. Canada Pension Plan Investment Board increased its stake in VEON by 3,302.9% during the third quarter. Canada Pension Plan Investment Board now owns 3,067,645 shares of the Wireless communications provider’s stock valued at $8,896,000 after purchasing an additional 2,977,496 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in VEON by 17.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,957,293 shares of the Wireless communications provider’s stock valued at $11,483,000 after purchasing an additional 598,227 shares during the last quarter. Hsbc Holdings PLC increased its stake in VEON by 9.2% during the third quarter. Hsbc Holdings PLC now owns 1,286,764 shares of the Wireless communications provider’s stock valued at $3,732,000 after purchasing an additional 108,725 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in VEON during the third quarter valued at $8,045,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in VEON during the third quarter valued at $225,000. Hedge funds and other institutional investors own 15.32% of the company’s stock.

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 traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; 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; and mobile bundles.

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Analyst Recommendations for VEON (NASDAQ:VEON)

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