Lenovo Group (OTCMKTS:LNVGY) Sees Large Volume Increase – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares saw unusually-strong trading volume on Monday . Approximately 81,349 shares were traded during trading, an increase of 163% from the previous session’s volume of 30,955 shares.The stock last traded at $24.63 and had previously closed at $24.60.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Lenovo Group Stock Down 2.8%

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.71. The firm has a market capitalization of $14.63 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.61. The business has a 50 day moving average price of $25.60 and a 200 day moving average price of $27.11.

Lenovo Group (OTCMKTS:LNVGY) last released its earnings results on Wednesday, November 19th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.15. The firm had revenue of $20.45 billion for the quarter, compared to analyst estimates of $20.09 billion. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%. On average, analysts predict that Lenovo Group Ltd. will post 2.06 earnings per share for the current year.

About Lenovo Group

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.