Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Still a Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up before the market opened on Friday . The stock had previously closed at $80.10, but opened at $83.20. Lenovo Group shares last traded at $81.90, with a volume of 3,160 shares traded.

Wall Street Analysts Forecast Growth

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

Lenovo Group Price Performance

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 business’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $46.50. The firm has a market cap of $51.47 billion, a price-to-earnings ratio of 80.56 and a beta of 1.15.

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.