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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $95.82, but opened at $90.97. Lenovo Group shares last traded at $90.6480, with a volume of 31,441 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Lenovo Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Lenovo Group Stock Down 4.5%

The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The firm has a market cap of $56.74 billion, a PE ratio of 88.81 and a beta of 1.15. The stock has a fifty day simple moving average of $72.73 and a two-hundred day simple moving average of $51.13.

Lenovo Group Company Profile

Lenovo Group Limited is a global technology company that develops, manufactures and sells personal computers, tablets, smartphones and other smart devices. Its portfolio includes the ThinkPad, ThinkBook, Yoga, Legion and IdeaPad computer brands, along with accessories, software and related device-management solutions.

The company also provides data-center and infrastructure products, including servers, storage systems, networking equipment and high-performance computing solutions. Through its services and solutions businesses, Lenovo supports organizations with IT consulting, managed services, digital workplace services, infrastructure services and other technology solutions.

Lenovo was founded in Beijing in 1984 as Legend and adopted the Lenovo name in 2004.