VEON (NASDAQ:VEON) Hits New 12-Month High – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $38.11 and last traded at $38.10, with a volume of 74473 shares. The stock had previously closed at $36.70.

Wall Street Analysts Forecast Growth

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

VEON Trading Up 8.2 %

The company’s fifty day moving average price is $32.77 and its two-hundred day moving average price is $29.35. 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 company has a market cap of $2.94 billion, a price-to-earnings ratio of 6.25 and a beta of 1.55.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Hedge Funds Weigh In On VEON

A number of institutional investors have recently modified their holdings of the stock. Samson Rock Capital LLP bought a new position in VEON in the third quarter valued at about $913,000. 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. Citigroup Inc. boosted its stake in shares of VEON by 13.4% in 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. Helikon Investments Ltd grew its position in shares of VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after buying an additional 206,200 shares during the period. Finally, Lingotto Investment Management LLP raised its stake in shares of 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. 21.30% of the stock is owned by 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.