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

VEON Ltd. (NASDAQ:VEON)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $48.00 and last traded at $47.12, with a volume of 43185 shares trading hands. The stock had previously closed at $44.70.

Analyst Ratings Changes

Separately, Benchmark initiated coverage on VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price objective on the stock.

VEON Stock Performance

The company’s 50 day moving average price is $37.00 and its two-hundred day moving average price is $31.46. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66.

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 81.71% and a positive return on equity of 38.43%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in VEON during the fourth quarter valued at $119,000. JPMorgan Chase & Co. grew its stake in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in VEON in the third quarter valued at $2,069,000. Citigroup Inc. lifted its stake in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the last quarter. Finally, Helikon Investments Ltd boosted its holdings in VEON by 1.8% in the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after purchasing an additional 49,680 shares in the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.