Lenovo Group Ltd. (OTCMKTS:LNVGY) Sees Large Increase in Short Interest

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 47,887 shares, an increase of 104.1% from the June 15th total of 23,463 shares. Based on an average daily volume of 169,806 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

Lenovo Group Price Performance

OTCMKTS LNVGY traded down $0.96 during mid-day trading on Friday, hitting $55.51. The stock had a trading volume of 126,020 shares, compared to its average volume of 122,224. The firm’s 50 day moving average is $53.19 and its 200 day moving average is $34.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 20.04 and a beta of 1.12. Lenovo Group has a twelve month low of $21.00 and a twelve month high of $68.79.

Lenovo Group (OTCMKTS:LNVGY) last announced its earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.28. The company had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. Equities research analysts forecast that Lenovo Group will post 3.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Lenovo Group presently has a consensus rating of “Buy”.

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.