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

VEON Ltd. (NASDAQ:VEON) shares hit a new 52-week high on Friday . The company traded as high as $69.50 and last traded at $69.16, with a volume of 270470 shares changing hands. The stock had previously closed at $65.00.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. Northland Securities initiated coverage on VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Wall Street Zen raised VEON from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

VEON Trading Down 1.9%

The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96. The company’s fifty day moving average is $56.94 and its 200-day moving average is $53.68. The stock has a market cap of $5.02 billion, a PE ratio of 79.85 and a beta of 1.63.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $8.30 earnings per share. On average, analysts predict that VEON Ltd. will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at VEON

In related news, Director K II acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was acquired at an average price of $56.00 per share, with a total value of $840,000.00. Following the acquisition, the director directly owned 91,000 shares in the company, valued at $5,096,000. This represents a 19.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently bought and sold shares of VEON. Osaic Holdings Inc. lifted its holdings in VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after acquiring an additional 388 shares during the period. Royal Bank of Canada grew its stake in shares of VEON by 184.3% during the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after purchasing an additional 1,576 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of VEON during the 2nd quarter valued at approximately $170,000. Truist Financial Corp increased its holdings in shares of VEON by 5.1% during the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after purchasing an additional 195 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of VEON in the 3rd quarter valued at $252,000. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.