VEON (NASDAQ:VEON) Reaches New 1-Year High – Here’s Why

VEON Ltd. (NASDAQ:VEON) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $35.24 and last traded at $35.07, with a volume of 79504 shares changing hands. The stock had previously closed at $34.39.

Analysts Set New Price Targets

Separately, Benchmark assumed coverage on VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price target for the company.

VEON Stock Down 0.9 %

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 firm has a fifty day moving average price of $31.82 and a 200 day moving average price of $28.69.

Hedge Funds Weigh In On VEON

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Samson Rock Capital LLP acquired a new stake in shares of VEON in the third quarter valued at about $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the 3rd quarter worth approximately $2,069,000. Citigroup Inc. boosted its stake in shares of VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after acquiring an additional 29,350 shares in the last quarter. Helikon Investments Ltd grew its holdings in shares of VEON by 8.1% in the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after acquiring an additional 206,200 shares during the period. Finally, Lingotto Investment Management LLP grew its holdings in VEON by 1.0% in the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after purchasing an additional 53,807 shares during the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.