VEON (NASDAQ:VEON) Hits New 52-Week High – Here’s What Happened

VEON Ltd. (NASDAQ:VEON)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.86 and last traded at $35.06, with a volume of 46530 shares. The stock had previously closed at $35.13.

Analyst Upgrades and Downgrades

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

VEON Stock Performance

The company’s 50-day simple moving average is $31.98 and its 200 day simple moving average is $28.87. 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 market cap of $2.59 billion, a P/E ratio of 5.52 and a beta of 1.55.

Institutional Investors Weigh In On VEON

Hedge funds have recently modified their holdings of the stock. Samson Rock Capital LLP bought a new stake in shares of VEON in the 3rd quarter worth approximately $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON in the 3rd quarter worth approximately $2,069,000. Citigroup Inc. raised its holdings 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 worth $7,567,000 after purchasing an additional 29,350 shares during the period. Helikon Investments Ltd raised 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 purchasing an additional 206,200 shares during the period. Finally, Lingotto Investment Management LLP raised its holdings in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after purchasing an additional 53,807 shares during the period. Institutional investors 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.