Veoneer (VNE) Shares Gap Down to $38.31

Shares of Veoneer Inc (NYSE:VNE) gapped down prior to trading on Thursday . The stock had previously closed at $43.62, but opened at $38.31. Veoneer shares last traded at $31.88, with a volume of 2756479 shares traded.

A number of analysts recently issued reports on VNE shares. Evercore ISI started coverage on shares of Veoneer in a research note on Monday, July 2nd. They issued a $35.00 price target for the company. Mizuho started coverage on shares of Veoneer in a research note on Tuesday, July 17th. They issued a “buy” rating and a $60.00 price target for the company. Longbow Research set a $49.00 price target on shares of Veoneer and gave the stock a “buy” rating in a research note on Saturday, July 28th. Jefferies Financial Group started coverage on shares of Veoneer in a research note on Monday, July 16th. They issued a “hold” rating and a $50.00 price target for the company. Finally, Royal Bank of Canada restated a “hold” rating and issued a $42.00 price target on shares of Veoneer in a research note on Sunday, July 29th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.67.

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.64.



Veoneer (NYSE:VNE) last released its earnings results on Thursday, October 25th. The company reported ($0.78) earnings per share for the quarter, meeting the consensus estimate of ($0.78). The business had revenue of $526.00 million for the quarter, compared to the consensus estimate of $532.60 million. Analysts expect that Veoneer Inc will post -2.63 earnings per share for the current year.

In other news, CFO Mathias Hermansson purchased 2,500 shares of Veoneer stock in a transaction dated Friday, August 10th. The stock was bought at an average price of $55.43 per share, with a total value of $138,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jan Carlson purchased 50,000 shares of Veoneer stock in a transaction dated Thursday, August 30th. The shares were purchased at an average cost of $50.65 per share, with a total value of $2,532,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 53,100 shares of company stock valued at $2,701,501.

Several institutional investors and hedge funds have recently made changes to their positions in VNE. Folketrygdfondet acquired a new position in shares of Veoneer during the second quarter valued at $11,897,000. Phoenix Investment Adviser LLC acquired a new position in shares of Veoneer during the second quarter valued at $144,000. Northern Trust Corp acquired a new position in shares of Veoneer during the second quarter valued at $1,053,000. Bank of Montreal Can acquired a new position in shares of Veoneer during the third quarter valued at $300,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Veoneer during the third quarter valued at $7,478,000. 8.15% of the stock is owned by institutional investors.

Veoneer Company Profile (NYSE:VNE)

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronics products. The company offers automotive radars, cameras with driver assist systems, night vision systems, positioning systems, restraint control, sensing, and brake systems. The company is based in Stockholm, Sweden.

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