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

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Friday. The stock had previously closed at $47.67, but opened at $45.5950. Lenovo Group shares last traded at $44.98, with a volume of 9,438 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Lenovo Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Lenovo Group Trading Down 7.7%

The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $73.83 and a 200 day simple moving average of $51.68. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 42.73 and a beta of 1.50.

About Lenovo Group

Lenovo Group is a global technology company that develops, manufactures and sells personal computers, smartphones, tablets, servers, storage systems and other connected devices. Its offerings also include software, IT support, and consulting and managed services for businesses and public-sector organizations. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004. Its expansion has included the acquisition of IBM’s personal computer business in 2005 and Motorola Mobility’s handset business in 2014.