- Advertisement -
- Advertisement -

Related

Norron Added to Veoneer Ahead of Stock Bounce

Industry Report

- Advertisement -

Stockholm (Hedgenordic) – Swedish multi-strategy hedge fund Norron has made some well-timed additions to its positions in the Veoneer stock in December, data from Morningstar suggests.

Veoneer, a company focusing on software, hardware and systems for the automative industry, providing solutions for active safety, autonomus driving, occupant protection and brake control, has had a difficult journey on the stock market since being spun off from Autoliv in July of last year. As of January 3, the value of the share had shed 46 percent since its first day of trading on July 2, 2018.

However, since January 3, the Veoneer share price has surged 24 percent on the back of easing concerns regarding the trade dispute between the US and China along with positive company specific news. The company announced an increase in its order book of 40 percent for 2018 triggering positive analyst commentaries. Veoneer also announced it had signed an agreement with a global car manufacturer for its Lidar-system serving self-driving cars.

According to Morningstar data, Norron, through its Active, Alpha, Select and Target funds, had increased its Veoneer exposure in the range of 27 to 34 percent in December. In a comment to Hedgenordic, Oskar Ormegard (pictured), portfolio manager at Norron says:

“After the EV has fallen close to 70% from highs in late September we found that the stock was more reasonably priced. We believe that Veoneer has some interesting years ahead, but there has been a question mark from the market during the last quarter whether Veoneer has a competitive offer or not. The comments from the company yesterday shows that the market has been too negative in their order expectations.”

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

HedgeNordic Editorial Team
HedgeNordic Editorial Team
This article was written, or published, by a member of the HedgeNordic editorial team.

Latest Articles

Split on Stops

Simply put (maybe), stop-orders are designed to exit a position when it moves against the trader beyond a predetermined threshold. Stop orders can be seen to be the...

Visio Allocator Deepens Tech Expertise

Visio Allocator Fund, a Finland-based multi-asset, multi-strategy fund, has strengthened its portfolio management team with the addition of technology specialist John-Axel Stråhlman, who joined...

Building for Agility: ICP and the Next Generation of Nordic Asset Management

By Stephen Roberts, CFA at Enfusion: When a team of seasoned investors from Norges Bank Investment Management (NBIM) set out to launch ICP Asset...

April Market Volatility Tests Nordic Hedge Funds

Markets were unsettled in early April by the surprise announcement of steep U.S. tariffs, triggering an equity sell-off, rising U.S. bond yields, and a...

Renewables in Retreat? Not for Coeli Energy Opportunities

Coeli Energy Opportunities, a long/short equity fund focused on renewable energy, currently ranks as the second-best performing Nordic hedge fund year-to-date, delivering a return...

Alcur Fonder Hires SEB Small-Cap Analyst

Shortly after appointing stockbroker Per Flöstrand as fund manager earlier this year, Stockholm-based hedge fund boutique Alcur Fonder has further strengthened its portfolio management...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.