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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $24.15, but opened at $22.60. Lenovo Group shares last traded at $23.64, with a volume of 9,384 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LNVGY shares. Zacks Research lowered Lenovo Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. downgraded shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One equities 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, the company has a consensus rating of “Reduce”.

Lenovo Group Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $23.82 and its 200 day simple moving average is $26.85. The company has a market cap of $14.98 billion, a P/E ratio of 9.71, a PEG ratio of 0.57 and a beta of 0.66.

Lenovo Group (OTCMKTS:LNVGY) last issued its earnings results on Wednesday, November 19th. The technology company reported $0.75 earnings per share (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 firm had revenue of $20.45 billion for the quarter, compared to analysts’ expectations of $20.09 billion. Sell-side 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.