Lenovo Group Ltd. (OTCMKTS:LNVGY – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 84,198 shares, a drop of 88.3% from the August 15th total of 718,862 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 816,154 shares, the days-to-cover ratio is presently 0.1 days.
Lenovo Group Price Performance
OTCMKTS:LNVGY traded down $0.80 during trading hours on Thursday, hitting $80.77. The company’s stock had a trading volume of 108,328 shares, compared to its average volume of 356,211. The stock has a fifty day simple moving average of $68.86 and a 200-day simple moving average of $48.13. The company has a market capitalization of $50.10 billion, a P/E ratio of 78.42 and a beta of 1.15. 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 has a twelve month low of $21.00 and a twelve month high of $89.99.
Analysts Set New Price Targets
Separately, Zacks Research downgraded shares of Lenovo Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.
About Lenovo Group
Lenovo Group Limited is a global technology company that develops, manufactures and sells personal computers, tablets, smartphones and other smart devices. Its portfolio includes the ThinkPad, ThinkBook, Yoga, Legion and IdeaPad computer brands, along with accessories, software and related device-management solutions.
The company also provides data-center and infrastructure products, including servers, storage systems, networking equipment and high-performance computing solutions. Through its services and solutions businesses, Lenovo supports organizations with IT consulting, managed services, digital workplace services, infrastructure services and other technology solutions.
Lenovo was founded in Beijing in 1984 as Legend and adopted the Lenovo name in 2004.
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