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

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Monday . The stock had previously closed at $62.8950, but opened at $60.00. Lenovo Group shares last traded at $60.00, with a volume of 3,362 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Lenovo Group currently has a consensus rating of “Buy”.

Lenovo Group Stock Down 5.2%

The firm has a 50-day simple moving average of $50.95 and a 200 day simple moving average of $33.81. The stock has a market capitalization of $37.00 billion, a P/E ratio of 21.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.28. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%.The company had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. On average, equities research analysts forecast that Lenovo Group Ltd. will post 3.59 EPS for the current year.

About Lenovo Group

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.