Lenovo Group Ltd. (OTCMKTS:LNVGY) Sees Significant Increase in Short Interest

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 718,862 shares, a growth of 1,678.6% from the July 30th total of 40,418 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 399,939 shares, the days-to-cover ratio is presently 1.8 days.

Analysts Set New Price Targets

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

Lenovo Group Price Performance

Shares of LNVGY stock opened at $79.86 on Wednesday. The firm’s 50 day moving average price is $64.44 and its two-hundred day moving average price is $43.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 0.95. Lenovo Group has a 52-week low of $21.00 and a 52-week high of $89.99. The stock has a market cap of $49.53 billion, a PE ratio of 77.53 and a beta of 1.14.

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.