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

VEON Ltd. (NASDAQ:VEON) shares hit a new 52-week high on Friday . The stock traded as high as $34.00 and last traded at $33.90, with a volume of 27935 shares. The stock had previously closed at $32.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of VEON in a research note on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price for the company. StockNews.com upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th.

VEON Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The stock’s 50 day moving average price is $31.29 and its two-hundred day moving average price is $28.32.

VEON (NASDAQ:VEON) last released its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 EPS for the quarter. VEON had a negative net margin of 77.48% and a positive return on equity of 28.73%. The firm had revenue of $1.03 billion during the quarter.

Institutional Trading of VEON

Several institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in 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 buying an additional 29,350 shares in the last quarter. Samson Rock Capital LLP bought a new stake in shares of VEON during the 3rd quarter valued at about $913,000. Helikon Investments Ltd grew its position in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after purchasing an additional 49,680 shares during the last quarter. Lingotto Investment Management LLP grew its position 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 worth $139,754,000 after purchasing an additional 53,807 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 3rd quarter worth approximately $2,069,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.