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

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down before the market opened on Thursday. The stock had previously closed at $89.99, but opened at $83.50. Lenovo Group shares last traded at $82.50, with a volume of 33,072 shares trading hands.

Wall Street Analyst Weigh In

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

Lenovo Group Trading Up 2.9%

The stock has a market cap of $52.38 billion, a P/E ratio of 81.93 and a beta of 1.27. The stock’s 50-day moving average is $81.97 and its two-hundred day moving average is $57.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.67.

About Lenovo Group

Lenovo Group Limited is a global technology company that develops, manufactures and sells a broad range of information technology products and services. Its portfolio includes personal computers, laptops, workstations, tablets, smartphones, servers, storage systems, accessories and other smart devices. The company also provides information technology infrastructure, managed services, support and solutions for businesses, governments and other organizations.

Lenovo was founded in Beijing in 1984 and was originally known as Legend.