Lenovo Group (OTCMKTS:LNVGF) Stock Price Down 3.4% – What’s Next?

Lenovo Group Limited (OTCMKTS:LNVGF)’s share price traded down 3.4% on Friday . The company traded as low as $0.99 and last traded at $1.16. 6,151 shares traded hands during trading, a decline of 89% from the average session volume of 54,770 shares. The stock had previously closed at $1.2010.

Lenovo Group Price Performance

The stock has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.35.

Institutional Investors Weigh In On Lenovo Group

A hedge fund recently raised its stake in Lenovo Group stock. Boston Common Asset Management LLC raised its stake in shares of Lenovo Group Limited (OTCMKTS:LNVGF) by 84.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,221,984 shares of the company’s stock after purchasing an additional 1,934,800 shares during the period. Boston Common Asset Management LLC’s holdings in Lenovo Group were worth $6,268,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.25% of the company’s stock.

About Lenovo Group

Lenovo Group (OTCMKTS:LNVGF) is a multinational technology company that designs, develops, manufactures and markets a broad range of computing and smart devices. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004 and has since grown into one of the world’s largest PC vendors. In 2005, Lenovo completed its landmark acquisition of IBM’s personal computer business, significantly expanding its global footprint and product portfolio.

The company’s core business activities include the production of laptops, desktops, workstations and servers, along with complementary products such as tablets, smartphones, electronic storage devices and smart televisions.