Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Should You Sell?

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $60.11, but opened at $56.90. Lenovo Group shares last traded at $58.70, with a volume of 10,365 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, Lenovo Group has a consensus rating of “Buy”.

Lenovo Group Stock Down 3.7%

The stock has a market cap of $35.90 billion, a price-to-earnings ratio of 20.90 and a beta of 1.12. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $57.46 and a two-hundred day moving average of $36.80.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.28. The firm had revenue of $21.59 billion during the quarter, compared to the consensus estimate of $19.39 billion. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%. As a group, analysts predict that Lenovo Group Ltd. will post 3.59 EPS 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.