Veoneer Inc. (VNE): Technicals Say You should Hold

Veoneer Inc. (NYSE:VNE) saw an upside of 4.25% on Monday at $36.02 after adding $1.47. The 5-day average trading volume is 860,060 shares of the company’s common stock. It has gained $36.12 in the past week and touched a new high 2 times within the past 5 days. An average of 779,490 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,069,660.

VNE’s 1-month performance is -5.03% or $0.55 on its low of $33.85 reached on 09/20/21. The company’s shares have touched a 52-week low of $14.64 and high of $40.46, with the stock’s rally to the 52-week high happening on 08/05/21. YTD, VNE has achieved 62.21% or $14.75 and has reached a new high 14 times. However, the current price is down -10.97%% from the 52-week high price.


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Valuation Metrics

Veoneer Inc. (VNE) has a trailing price-to-earnings (P/E) ratio of 16.29 for the broader industry and 19.81 for the sector, meaning that investors are optimistic about the stock’s future prospects.VNE stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.32 while the price-to-book (PB) in the most recent quarter is 3.75.

Veoneer Inc.’s quick ratio for the period ended June 29 was 1.70, with the current ratio over the same period at 2.00 meaning that VNE stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.22, while the total debt to equity was 0.22. In terms of profitability, the gross margin trailing 12 months is 14.90%The trailing 12-month EBITDA margin is -21.34% while for the period ending June 29; Veoneer Inc.’s operating margin was -24.30%. The firm’s gross profit as reported stood at $182.0 million against revenue of $1.37 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 53.77% to $398.0 million, while revenue of $419.0 million was -5.28% off the previous quarter. Analysts expected VNE to announce -$0.9 per share in earnings in its latest quarter, but it posted -$0.89, representing a 1.10% surprise. EBITDA for the quarter stood at more than -$64.0 million. VNE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 870.0 million, with total debt at $300.0 million. Shareholders hold equity totaling $111.96 million

Technical Picture

Let’s look briefly at Veoneer Inc. (VNE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 01 October was 67.08% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.92%.

The stock’s 5-day moving average is $34.63, reflecting a +3.44% or $1.20 change from its current price. VNE is currently trading +1.55% above its 20-day SMA, +68.07% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +15.66% and +64.54% respectively.

Stochastic %K and %D was 46.90% and 26.73% and the average true range (ATR) pointed at 0.68. The RSI (14) points at 61.66%, while the 14-day stochastic is at 96.92% with the period’s ATR at 0.70. The stock’s 9-day MACD Oscillator is pointing at 0.22 and 0.17 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Veoneer Inc. (NYSE: VNE), Danske Bank downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for VNE stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate VNE as a “sell,”, while 19 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

What is VNE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $24.00 and a high of $60.96, with their median price target at $31.25. Looking at these predictions, the average price target given by analysts is for Veoneer Inc. (VNE) stock is $34.60.

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