VEON (NASDAQ:VEON) Sets New 1-Year High – Still a Buy?

VEON Ltd. (NASDAQ:VEON) reached a new 52-week high during trading on Tuesday . The company traded as high as $48.00 and last traded at $47.12, with a volume of 43185 shares changing hands. The stock had previously closed at $44.70.

Wall Street Analyst Weigh In

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

VEON Trading Up 4.2 %

The business has a 50-day simple moving average of $36.44 and a 200-day simple moving average of $31.21. The company has a market cap of $3.44 billion, a PE ratio of 7.33 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66.

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

Institutional Trading of VEON

A number of large investors have recently modified their holdings of VEON. JPMorgan Chase & Co. grew its stake in VEON by 41.5% during 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. GAMMA Investing LLC purchased a new position in shares of VEON in the 4th quarter valued at about $119,000. Samson Rock Capital LLP acquired a new position in shares of VEON during the third quarter worth about $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the third quarter worth approximately $2,069,000. Finally, Citigroup Inc. raised 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 acquiring an additional 29,350 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.