Short Interest in Veoneer Inc (NYSE:VNE) Rises By 6.6%

Veoneer Inc (NYSE:VNE) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 8,712,900 shares, an increase of 6.6% from the June 30th total of 8,172,000 shares. Currently, 10.0% of the company’s shares are sold short. Based on an average trading volume of 855,500 shares, the short-interest ratio is presently 10.2 days.

Shares of VNE opened at $15.60 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.80 and a debt-to-equity ratio of 0.13. Veoneer has a 1 year low of $14.75 and a 1 year high of $57.93. The stock has a market cap of $1.82 billion and a P/E ratio of -4.92. The stock’s 50-day moving average price is $16.82 and its two-hundred day moving average price is $21.82.

VNE has been the topic of several recent research reports. Robert W. Baird decreased their price target on Veoneer from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Zacks Investment Research upgraded Veoneer from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, July 27th. ValuEngine upgraded Veoneer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Mizuho reduced their target price on Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Credit Suisse Group initiated coverage on Veoneer in a report on Thursday, June 27th. They set a “neutral” rating and a $18.00 target price on the stock. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Veoneer currently has a consensus rating of “Hold” and a consensus price target of $32.92.



Institutional investors and hedge funds have recently modified their holdings of the business. Voloridge Investment Management LLC increased its position in shares of Veoneer by 46.1% during the 2nd quarter. Voloridge Investment Management LLC now owns 56,200 shares of the company’s stock worth $973,000 after purchasing an additional 17,723 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Veoneer by 2.9% during the 2nd quarter. Schroder Investment Management Group now owns 340,511 shares of the company’s stock worth $5,894,000 after purchasing an additional 9,607 shares during the last quarter. Andra AP fonden acquired a new position in shares of Veoneer during the 2nd quarter worth approximately $865,000. Price T Rowe Associates Inc. MD increased its position in shares of Veoneer by 13.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 162,018 shares of the company’s stock worth $2,805,000 after purchasing an additional 18,621 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Veoneer by 49.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 100,985 shares of the company’s stock worth $1,748,000 after purchasing an additional 33,316 shares during the last quarter. Hedge funds and other institutional investors own 25.62% of the company’s stock.

Veoneer Company Profile

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.

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