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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $74.30, but opened at $67.02. Lenovo Group shares last traded at $66.10, with a volume of 30,147 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Lenovo Group Stock Down 9.9%

The firm has a 50-day moving average of $82.73 and a two-hundred day moving average of $59.27. The stock has a market capitalization of $41.56 billion, a price-to-earnings ratio of 65.01 and a beta of 1.27. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.66.

About Lenovo Group

Lenovo Group Limited is a global technology company that develops, manufactures and sells a broad range of information technology products and services. Its portfolio includes personal computers, laptops, workstations, tablets, smartphones, servers, storage systems, accessories and other smart devices. The company also provides information technology infrastructure, managed services, support and solutions for businesses, governments and other organizations.

Lenovo was founded in Beijing in 1984 and was originally known as Legend.