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

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down before the market opened on Friday. The stock had previously closed at $47.67, but opened at $45.5950. Lenovo Group shares last traded at $44.98, with a volume of 9,438 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Lenovo Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Lenovo Group Price Performance

The firm has a market capitalization of $28.22 billion, a P/E ratio of 42.73 and a beta of 1.50. The stock’s fifty day simple moving average is $73.83 and its 200 day simple moving average is $51.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.67.

Lenovo Group Company Profile

Lenovo Group is a global technology company that develops, manufactures and sells personal computers, smartphones, tablets, servers, storage systems and other connected devices. Its offerings also include software, IT support, and consulting and managed services for businesses and public-sector organizations. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004. Its expansion has included the acquisition of IBM’s personal computer business in 2005 and Motorola Mobility’s handset business in 2014.