Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Should You Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up prior to trading on Tuesday . The stock had previously closed at $54.05, but opened at $58.01. Lenovo Group shares last traded at $58.54, with a volume of 29,443 shares changing hands.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Lenovo Group presently has a consensus rating of “Buy”.

Lenovo Group Stock Performance

The stock has a market cap of $38.42 billion, a price-to-earnings ratio of 22.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66. The firm has a fifty day moving average of $55.13 and a 200 day moving average of $35.75.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The company had revenue of $21.59 billion for the quarter, compared to analyst estimates of $19.39 billion. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%. As a group, sell-side analysts forecast that Lenovo Group Ltd. will post 3.59 EPS for the current 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.