VEON (NASDAQ:VEON) Sets New 52-Week High – Should You Buy?

Shares of VEON Ltd. (NASDAQ:VEON) 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 traded. The stock had previously closed at $38.96.

Wall Street Analyst Weigh In

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

VEON Stock Down 0.2 %

The business’s 50-day simple moving average is $34.14 and its 200-day simple moving average is $30.07. The company has a market capitalization of $2.97 billion, a PE ratio of 6.31 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 earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a negative net margin of 77.48% and a positive return on equity of 28.73%.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in VEON by 41.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares in the last quarter. Samson Rock Capital LLP purchased a new stake in VEON during the third quarter worth $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in VEON during the third quarter valued at $2,069,000. Citigroup Inc. increased its holdings in VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares in the last quarter. Finally, Helikon Investments Ltd raised its position 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 worth $84,840,000 after acquiring an additional 49,680 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

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.