Veoneer Inc. [NYSE: VNE] stock went on a downward path that fall over -0.92% on Wednesday, amounting to a one-week price increase of more than 53.25%. The company report on July 28, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Veoneer, Inc. (NYSE:VNE).
Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors ofVeoneer, Inc. (“Veoneer” or the “Company”) (NYSE:VNE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Magna International Inc. (“Magna”) (NYSE:MGA) in an all-cash transaction. Under the terms of the merger agreement, Veoneer shareholders will receive only $31.25 for each share of Veoneer common stock owned.
The investigation concerns whether the Veoneer Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Magna is paying too little for the Company.
Over the last 12 months, VNE stock rose by 188.06%. The one-year Veoneer Inc. stock forecast points to a potential downside of -35.03. The average equity rating for VNE stock is currently 3.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.22 billion, with 111.84 million shares outstanding and 111.28 million shares in the current float. Compared to the average trading volume of 789.37K shares, VNE stock reached a trading volume of 2225544 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Veoneer Inc. [VNE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VNE shares is $23.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VNE stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Veoneer Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on April 16, 2021, representing the official price target for Veoneer Inc. stock. Previously, the target price had yet another raise from $15 to $17, while RBC Capital Mkts kept a Underperform rating on VNE stock. On October 28, 2020, analysts increased their price target for VNE shares from 9 to 12.
The Average True Range (ATR) for Veoneer Inc. is set at 1.42, with the Price to Sales ratio for VNE stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 7.76.
VNE Stock Performance Analysis:
Veoneer Inc. [VNE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 53.25. With this latest performance, VNE shares gained by 36.39% in over the last four-week period, additionally plugging by 15.01% over the last 6 months – not to mention a rise of 188.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VNE stock in for the last two-week period is set at 74.78, with the RSI for the last a single of trading hit 78.90, and the three-weeks RSI is set at 70.59 for Veoneer Inc. [VNE]. The present Moving Average for the last 50 days of trading for this stock 23.45, while it was recorded at 29.18 for the last single week of trading, and 23.14 for the last 200 days.
Insight into Veoneer Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Veoneer Inc. [VNE] shares currently have an operating margin of -28.84 and a Gross Margin at +9.69. Veoneer Inc.’s Net Margin is presently recorded at -39.69.
Return on Total Capital for VNE is now -20.77, given the latest momentum, and Return on Invested Capital for the company is -29.77. Return on Equity for this stock declined to -36.73, with Return on Assets sitting at -21.67. When it comes to the capital structure of this company, Veoneer Inc. [VNE] has a Total Debt to Total Equity ratio set at 36.48. Additionally, VNE Total Debt to Total Capital is recorded at 26.73, with Total Debt to Total Assets ending up at 19.76. Long-Term Debt to Equity for the company is recorded at 33.09, with the Long-Term Debt to Total Capital now at 24.25.
Reflecting on the efficiency of the workforce at the company, Veoneer Inc. [VNE] managed to generate an average of -$72,252 per employee. Receivables Turnover for the company is 4.76 with a Total Asset Turnover recorded at a value of 0.55.Veoneer Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.00.
Veoneer Inc. [VNE] Insider Position Details
There are presently around $1,010 million, or 63.50% of VNE stock, in the hands of institutional investors. The top three institutional holders of VNE stocks are: CEVIAN CAPITAL II GP LTD with ownership of 8,023,649, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND, holding 5,500,000 shares of the stock with an approximate value of $171.1 million in VNE stocks shares; and CREDIT SUISSE AG/, currently with $84.44 million in VNE stock with ownership of nearly -12.247% of the company’s market capitalization.
Positions in Veoneer Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 59 institutional holders increased their position in Veoneer Inc. [NYSE:VNE] by around 2,386,582 shares. Additionally, 46 investors decreased positions by around 1,593,575 shares, while 22 investors held positions by with 28,480,101 shares. The mentioned changes placed institutional holdings at 32,460,258 shares, according to the latest SEC report filing. VNE stock had 21 new institutional investments in for a total of 563,649 shares, while 20 institutional investors sold positions of 460,131 shares during the same period.