Veoneer Target of Unusually High Options Trading (NYSE:VNE)

Veoneer Inc (NYSE:VNE) saw unusually large options trading activity on Tuesday. Stock traders bought 1,258 put options on the company. This represents an increase of 1,750% compared to the average daily volume of 68 put options.

Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Veoneer by 27.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,008 shares of the company’s stock valued at $104,000 after buying an additional 1,310 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Veoneer by 60.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,891 shares of the company’s stock valued at $137,000 after buying an additional 2,965 shares during the last quarter. 13D Management LLC lifted its position in Veoneer by 4.2% in the first quarter. 13D Management LLC now owns 79,636 shares of the company’s stock valued at $1,923,000 after buying an additional 3,238 shares during the last quarter. Cutler Group LP acquired a new position in Veoneer in the second quarter valued at about $58,000. Finally, NumerixS Investment Technologies Inc lifted its position in Veoneer by 92.0% in the second quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the company’s stock valued at $166,000 after buying an additional 4,600 shares during the last quarter. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

VNE has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Veoneer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Credit Suisse Group assumed coverage on shares of Veoneer in a research note on Thursday, June 27th. They set a “neutral” rating and a $18.00 price objective for the company. Longbow Research set a $26.00 price objective on shares of Veoneer and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Zacks Investment Research upgraded shares of Veoneer from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Saturday, July 27th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.92.

Veoneer stock opened at $18.04 on Thursday. Veoneer has a 52-week low of $13.46 and a 52-week high of $57.93. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -5.69 and a beta of 3.00. The company has a fifty day simple moving average of $16.15 and a 200-day simple moving average of $20.17. The company has a quick ratio of 2.80, a current ratio of 3.07 and a debt-to-equity ratio of 0.13.

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.

Further Reading: What are the reasons investors use put options?

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