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 trading on Tuesday . The company 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 started coverage on shares of VEON in a research note on Tuesday, November 12th. They set a “buy” rating and a $48.00 price target on the stock.

VEON Trading Down 1.3 %

The business has a 50 day moving average of $35.65 and a 200 day moving average of $30.78. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 7.02 and a beta of 1.51. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.77 and a quick ratio of 0.76.

VEON (NASDAQ:VEON) last released its quarterly earnings data 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%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VEON. JPMorgan Chase & Co. increased its stake in shares of VEON by 41.5% during the third 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 during the period. GAMMA Investing LLC bought a new stake in shares of VEON in the fourth quarter valued at about $119,000. Samson Rock Capital LLP acquired a new position in shares of VEON in the third quarter valued at about $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in VEON during the third quarter worth about $2,069,000. Finally, Citigroup Inc. raised its stake in VEON by 13.4% in the 3rd 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 institutional investors and hedge funds.

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.