Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up before the market opened on Wednesday . The stock had previously closed at $22.93, but opened at $24.16. Lenovo Group shares last traded at $23.10, with a volume of 10,745 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a report on Thursday, November 20th. Zacks Research lowered shares of Lenovo Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lenovo Group currently has an average rating of “Reduce”.

Lenovo Group Price Performance

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 stock has a 50 day simple moving average of $24.04 and a two-hundred day simple moving average of $26.94. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.54 and a beta of 0.61.

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