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

VEON Ltd. (NASDAQ:VEON) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.00 and last traded at $47.12, with a volume of 43185 shares changing hands. The stock had previously closed at $44.70.

Wall Street Analysts Forecast Growth

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

VEON Stock Performance

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 firm’s fifty day moving average is $36.44 and its 200 day moving average is $31.21. The company has a market cap of $3.44 billion, a PE ratio of 7.33 and a beta of 1.51.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in VEON during the third quarter worth about $2,069,000. Lingotto Investment Management LLP raised 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 buying an additional 53,807 shares during the period. Helikon Investments Ltd lifted its holdings in 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 acquiring an additional 49,680 shares during the last quarter. Samson Rock Capital LLP purchased a new position in VEON in the third quarter worth approximately $913,000. Finally, Citigroup Inc. increased its stake in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after acquiring an additional 29,350 shares during the last quarter. Hedge funds and other 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.