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

VEON Ltd. (NASDAQ:VEON) hit a new 52-week high during trading on Friday . The stock traded as high as $38.11 and last traded at $38.10, with a volume of 74473 shares trading hands. The stock had previously closed at $36.70.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on shares of VEON in a research report on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target for the company.

VEON Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The stock has a 50-day simple moving average of $32.96 and a 200 day simple moving average of $29.46. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.15 and a beta of 1.55.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS for the quarter. VEON had a negative net margin of 77.48% and a positive return on equity of 28.73%.

Hedge Funds Weigh In On VEON

Hedge funds have recently modified their holdings of the stock. Samson Rock Capital LLP acquired a new stake in VEON during the third quarter valued at $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of VEON during the 3rd quarter valued at about $2,069,000. Citigroup Inc. lifted its holdings 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 valued at $7,567,000 after buying an additional 29,350 shares during the last quarter. Helikon Investments Ltd grew its stake 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 valued at $71,057,000 after buying an additional 206,200 shares in the last quarter. Finally, Lingotto Investment Management LLP increased 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 worth $139,754,000 after buying 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.