VEON (NASDAQ:VEON) Coverage initiated by StockNews.com analysts

StockNews.com began covering stocks of VEON (NASDAQ:VEON – Get an assessment) in a research note released Wednesday to investors. The company has issued a “strong buy” rating on the shares of the wireless communications provider.

Separately, Zacks Investment Research downgraded VEON shares from a “hold” rating to a “buy” rating and set a price target of $0.75 on the stock in a Tuesday 29 research report. march. Three research analysts gave the stock a buy rating and one gave the company’s stock a high buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $1.95.

NASDAQ:VEON opened at $0.49 on Wednesday. VEON has a 52-week low of $0.24 and a 52-week high of $2.38. The company has a market capitalization of $853.77 million, a price-earnings ratio of 2.21 and a beta of 1.44. The company’s 50-day simple moving average is $0.57 and its 200-day simple moving average is $1.10. The company has a debt ratio of 6.25, a quick ratio of 0.79 and a current ratio of 0.81.

A number of institutional investors have recently changed their positions in the company. BNP Paribas Arbitrage SA acquired a new stake in VEON during the first quarter worth approximately $54,000. Gabelli Funds LLC increased its equity stake in VEON by 7.7% in Q1. Gabelli Funds LLC now owns 3,678,223 shares of the wireless communications provider valued at $2,511,000 after purchasing an additional 264,523 shares last quarter. Virtu Financial LLC acquired a new stake in VEON stock in Q1 worth approximately $58,000. Goldman Sachs Group Inc. increased its equity stake in VEON by 43.9% in Q1. Goldman Sachs Group Inc. now owns 436,998 shares of the wireless communications provider valued at $299,000 after buying an additional 133,293 shares last quarter. Finally, Engineers Gate Manager LP acquired a new equity stake in VEON in Q1 worth approximately $28,000. Hedge funds and other institutional investors own 28.21% of the company’s shares.

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About VEON (Get a rating)

VEON Ltd., through its subsidiaries, provides mobile and fixed telecommunications services. It offers voice, data and other telecommunications services through a range of wireless, fixed and broadband Internet services. The company provides value-added services, including short message, multimedia message, caller ID, call waiting, data transmission, mobile Internet, downloadable content, mobile financing, machine-to-machine and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile plans and call completion services.

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