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

VEON Ltd. (NASDAQ:VEON)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $33.03 and last traded at $33.03, with a volume of 625 shares changing hands. The stock had previously closed at $31.30.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th.

VEON Price Performance

The company has a 50-day moving average of $29.12 and a 200-day moving average of $26.99. 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 issued its quarterly earnings data on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%. The company had revenue of $1.03 billion during the quarter.

Hedge Funds Weigh In On VEON

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gabelli Funds LLC raised its position in shares of VEON by 18.8% in the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after acquiring an additional 20,456 shares in the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON during the 3rd quarter worth approximately $913,000. Helikon Investments Ltd increased its stake in shares of VEON by 30.4% in the 1st quarter. Helikon Investments Ltd now owns 2,533,075 shares of the Wireless communications provider’s stock valued at $60,819,000 after acquiring an additional 591,060 shares in the last quarter. Lingotto Investment Management LLP lifted its position in shares of VEON by 1.0% during 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 period. Finally, Gamco Investors INC. ET AL bought a new position in VEON during the first quarter worth $376,000. 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.