VEON (NASDAQ:VEON) Shares Gap Down to $23.07

VEON Ltd. (NASDAQ:VEON)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $23.07, but opened at $22.57. VEON shares last traded at $22.46, with a volume of 2,511 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut VEON from a “buy” rating to a “hold” rating in a research note on Wednesday.

VEON Price Performance

The firm’s 50 day moving average price is $24.08 and its two-hundred day moving average price is $20.66. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.97 and a quick ratio of 0.97.

Institutional Trading of VEON

Several institutional investors and hedge funds have recently modified their holdings of the stock. Exor Capital LLP grew its holdings in VEON by 8.5% during the fourth quarter. Exor Capital LLP now owns 131,068,288 shares of the Wireless communications provider’s stock worth $237,757,000 after buying an additional 10,282,470 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in VEON by 1,979.1% during the 1st quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock worth $3,754,000 after acquiring an additional 5,234,162 shares during the last quarter. Shah Capital Management bought a new stake in shares of VEON in the 4th quarter worth $97,544,000. Gabelli Funds LLC raised its holdings in shares of VEON by 7.7% in the first quarter. Gabelli Funds LLC now owns 3,678,223 shares of the Wireless communications provider’s stock valued at $2,511,000 after purchasing an additional 264,523 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in VEON by 167.0% during the second quarter. JPMorgan Chase & Co. now owns 3,258,461 shares of the Wireless communications provider’s stock worth $1,499,000 after purchasing an additional 2,037,914 shares during the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

About VEON

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.