Short Interest in Lenovo Group Ltd. (OTCMKTS:LNVGY) Increases By 99.0%

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 101,751 shares, an increase of 99.0% from the May 14th total of 51,122 shares. Based on an average daily trading volume, of 260,441 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are short sold.

Lenovo Group Trading Down 3.6%

Shares of LNVGY stock traded down $2.12 during trading hours on Friday, hitting $57.25. The company had a trading volume of 78,482 shares, compared to its average volume of 175,030. The company’s fifty day moving average is $38.32 and its 200 day moving average is $28.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.96 and a quick ratio of 0.71. Lenovo Group has a fifty-two week low of $21.00 and a fifty-two week high of $68.79. The stock has a market capitalization of $35.51 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10.

Lenovo Group (OTCMKTS:LNVGY) last issued its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The firm had revenue of $21.59 billion for the quarter, compared to analyst estimates of $19.39 billion. Research analysts expect that Lenovo Group will post 2.75 earnings per share for the current fiscal year.

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 given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

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.