VEON (NASDAQ:VEON) Hits New 52-Week High – Time to Buy?

Shares of VEON Ltd. (NASDAQ:VEON) reached a new 52-week high on Friday . The stock traded as high as $34.00 and last traded at $33.90, with a volume of 27935 shares. The stock had previously closed at $32.15.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VEON shares. Benchmark assumed coverage on VEON in a research report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective on the stock. StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th.

VEON Stock Up 5.6 %

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The business’s 50 day simple moving average is $31.37 and its two-hundred day simple moving average is $28.40.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share for the quarter. The company had revenue of $1.03 billion 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

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in VEON in the third quarter worth approximately $2,069,000. Citigroup Inc. increased 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 worth $7,567,000 after purchasing an additional 29,350 shares in the last quarter. Helikon Investments Ltd raised its holdings in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after purchasing an additional 49,680 shares during the period. Samson Rock Capital LLP purchased a new position in VEON during the third quarter valued at $913,000. Finally, Lingotto Investment Management LLP grew its holdings in 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 valued at $139,754,000 after purchasing an additional 53,807 shares during the period. 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.