VEON (NASDAQ:VEON) Hits New 12-Month High – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

VEON Stock Performance

The company’s fifty day moving average price is $32.18 and its two-hundred day moving average price is $28.97. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted 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 valued at $139,754,000 after buying an additional 53,807 shares during the last quarter. Helikon Investments Ltd raised its holdings in VEON by 1.8% during 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. Citigroup Inc. lifted its position in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after purchasing an additional 29,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON in the 3rd quarter valued at about $2,069,000. Finally, Samson Rock Capital LLP acquired a new stake in shares of VEON during the 3rd quarter worth approximately $913,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

VEON Company Profile

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.