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

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up before the market opened on Friday . The stock had previously closed at $57.17, but opened at $63.22. Lenovo Group shares last traded at $60.77, with a volume of 9,855 shares.

Analyst Upgrades and Downgrades

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

Lenovo Group Price Performance

The business has a fifty day moving average price of $58.41 and a 200 day moving average price of $37.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66. The company has a market capitalization of $37.45 billion, a price-to-earnings ratio of 21.80 and a beta of 1.12.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings data 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. The business had revenue of $21.59 billion during the quarter, compared to the consensus estimate of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. On average, research analysts expect that Lenovo Group Ltd. will post 3.59 earnings per share for the current fiscal year.

Lenovo Group Company Profile

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.