Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Still a Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $77.76, but opened at $80.50. Lenovo Group shares last traded at $81.45, with a volume of 10,257 shares.

Analysts Set New Price Targets

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

Lenovo Group Price Performance

The company has a fifty day simple moving average of $69.89 and a two-hundred day simple moving average of $48.77. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 80.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 0.95.

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.