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

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

Analysts Set New Price Targets

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

VEON Price Performance

The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 5.52 and a beta of 1.55. 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 business has a 50 day simple moving average of $31.98 and a 200-day simple moving average of $28.87.

Hedge Funds Weigh In On VEON

Hedge funds have recently added to or reduced their stakes in the stock. Samson Rock Capital LLP acquired a new position in VEON during the 3rd quarter valued at about $913,000. Citigroup Inc. boosted its stake 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 last quarter. Lingotto Investment Management LLP boosted its stake in 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 purchasing an additional 53,807 shares during the last quarter. Helikon Investments Ltd boosted its stake 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 valued at $84,840,000 after purchasing an additional 49,680 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON during the 3rd quarter valued at about $2,069,000. 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.