Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Time to Sell?

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Tuesday . The stock had previously closed at $83.85, but opened at $77.00. Lenovo Group shares last traded at $77.6840, with a volume of 10,684 shares.

Analysts Set New Price Targets

Separately, Zacks Research cut Lenovo Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Lenovo Group currently has a consensus rating of “Hold”.

Lenovo Group Price Performance

The stock has a market capitalization of $48.25 billion, a PE ratio of 75.53 and a beta of 1.15. The firm’s 50 day simple moving average is $68.04 and its 200 day simple moving average is $47.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66.

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.