VEON (NASDAQ:VEON) Reaches New 52-Week High – Time to Buy?

VEON Ltd. (NASDAQ:VEON)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $46.49 and last traded at $45.88, with a volume of 16487 shares. The stock had previously closed at $45.68.

Analysts Set New Price Targets

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

VEON Stock Performance

The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66. The firm has a 50-day simple moving average of $35.09 and a 200 day simple moving average of $30.54. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 7.09 and a beta of 1.51.

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 negative net margin of 77.48% and a positive return on equity of 28.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VEON. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of VEON during the third quarter worth $2,069,000. Lingotto Investment Management LLP lifted its stake in shares of 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 acquiring an additional 53,807 shares during the period. Helikon Investments Ltd boosted its holdings in shares of 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 in the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON during the third quarter worth about $913,000. Finally, Citigroup Inc. raised its holdings 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 purchasing an additional 29,350 shares in the last quarter. 21.30% of the stock is currently 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.