VEON (NASDAQ:VEON) Sets New 1-Year High – Time to Buy?

VEON Ltd. (NASDAQ:VEON)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $40.86 and last traded at $40.74, with a volume of 28205 shares trading hands. The stock had previously closed at $38.96.

Wall Street Analyst Weigh In

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

VEON Trading Up 3.6 %

The company has a fifty day moving average of $33.77 and a 200-day moving average of $29.87. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.35 and a beta of 1.55. 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 posted its quarterly earnings data 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 Trading of VEON

Large investors have recently bought and sold shares of the business. 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. Lingotto Investment Management LLP boosted its stake in VEON by 1.0% during the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after buying an additional 53,807 shares during the last quarter. Helikon Investments Ltd grew its holdings 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 valued at $84,840,000 after buying an additional 49,680 shares in the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON in the 3rd quarter worth $913,000. Finally, Citigroup Inc. raised its holdings 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 acquiring an additional 29,350 shares during the period. Hedge funds and other institutional investors 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.