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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $64.74, but opened at $59.00. Lenovo Group shares last traded at $60.21, with a volume of 3,500 shares.

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 Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Lenovo Group Price Performance

The stock has a market cap of $38.23 billion, a PE ratio of 22.25, a P/E/G ratio of 2.30 and a beta of 1.10. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $40.59 and its 200-day moving average is $29.79.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly 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. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The firm had revenue of $21.59 billion for the quarter, compared to the consensus estimate of $19.39 billion. As a group, sell-side analysts predict that Lenovo Group Ltd. will post 2.75 earnings per share for the current year.

Lenovo Group Company Profile

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.