Veoneer Sees Unusually High Options Volume (NYSE:VNE)

Veoneer Inc (NYSE:VNE) saw some unusual options trading on Thursday. Stock traders acquired 610 call options on the company. This is an increase of approximately 1,096% compared to the typical volume of 51 call options.

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

Hedge funds have recently added to or reduced their stakes in the stock. Phoenix Investment Adviser LLC bought a new position in Veoneer in the 2nd quarter valued at approximately $144,000. Bank of Montreal Can bought a new position in Veoneer in the 3rd quarter valued at approximately $300,000. Northern Trust Corp bought a new position in Veoneer in the 2nd quarter valued at approximately $1,053,000. Finally, Folketrygdfondet bought a new position in Veoneer in the 2nd quarter valued at approximately $11,897,000. 7.93% of the stock is currently owned by institutional investors and hedge funds.

VNE has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on Veoneer in a report on Monday, June 18th. They set a “neutral” rating on the stock. Guggenheim initiated coverage on Veoneer in a report on Wednesday, June 20th. They set a “neutral” rating and a $38.00 target price on the stock. Cowen initiated coverage on Veoneer in a report on Monday, July 2nd. They set a “market perform” rating and a $39.00 target price on the stock. Longbow Research initiated coverage on Veoneer in a report on Monday, July 2nd. They set a “buy” rating and a $49.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on Veoneer in a report on Monday, July 2nd. They set a “sector perform” rating and a $37.00 target price on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.67.

Shares of Veoneer stock traded down $2.66 during midday trading on Friday, hitting $42.91. The company had a trading volume of 1,194,878 shares, compared to its average volume of 570,982. Veoneer has a 52-week low of $39.50 and a 52-week high of $57.93.

Veoneer (NYSE:VNE) last released its quarterly earnings data on Friday, July 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.08). The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $592.80 million. On average, analysts expect that Veoneer will post -2.54 EPS for the current fiscal year.

Veoneer Company Profile

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.

Read More: Bond

Receive News & Ratings for Veoneer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veoneer and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply