VEON (NASDAQ:VEON) Reaches New 1-Year High – Time to Buy?

VEON Ltd. (NASDAQ:VEON) hit a new 52-week high on Tuesday . The stock traded as high as $46.49 and last traded at $45.88, with a volume of 16487 shares changing hands. The stock had previously closed at $45.68.

Analyst Ratings Changes

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

VEON Price Performance

The company’s 50-day moving average is $35.65 and its 200-day moving average is $30.78. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 7.02 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66.

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

Institutional Investors Weigh In On VEON

Hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP raised its stake in shares of VEON by 1.0% during 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 acquiring an additional 53,807 shares during the last quarter. Samson Rock Capital LLP bought a new position in VEON during the 3rd quarter worth $913,000. Helikon Investments Ltd lifted its holdings in VEON by 1.8% during the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after buying an additional 49,680 shares during the period. Citigroup Inc. grew its position in shares of VEON by 13.4% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of VEON in the third quarter valued at about $2,069,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.