Short Interest in Lenovo Group Ltd. (OTCMKTS:LNVGY) Expands By 104.1%

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 47,887 shares, a growth of 104.1% from the June 15th total of 23,463 shares. Based on an average daily trading volume, of 169,806 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Lenovo Group Stock Down 5.4%

Shares of LNVGY traded down $3.21 during trading hours on Thursday, hitting $56.59. The company had a trading volume of 55,839 shares, compared to its average volume of 122,011. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $35.10 billion, a PE ratio of 20.43 and a beta of 1.12. Lenovo Group has a one year low of $21.00 and a one year high of $68.79. The company’s fifty day moving average price is $52.70 and its two-hundred day moving average price is $34.57.

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