VEON (NASDAQ:VEON) Reaches New 1-Year High – What’s Next?

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

Wall Street Analyst Weigh In

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

VEON Trading Down 1.5 %

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 business’s fifty day moving average is $35.09 and its 200 day moving average is $30.54. The stock has a market cap of $3.33 billion, a PE ratio of 7.09 and a beta of 1.51.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lingotto Investment Management LLP grew its stake in 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 valued at $139,754,000 after acquiring an additional 53,807 shares during the last quarter. Helikon Investments Ltd grew its position in shares of 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 during the last quarter. Citigroup Inc. increased 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 purchasing an additional 29,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON during the 3rd quarter worth approximately $2,069,000. Finally, Samson Rock Capital LLP purchased a new stake in VEON in the 3rd quarter valued at approximately $913,000. 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.