Lenovo Group (OTCMKTS:LNVGY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) saw unusually-high trading volume on Monday . Approximately 123,736 shares traded hands during trading, an increase of 42% from the previous session’s volume of 87,170 shares.The stock last traded at $23.6909 and had previously closed at $24.24.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Lenovo Group Stock Performance

The company has a market capitalization of $14.66 billion, a P/E ratio of 9.68, a PEG ratio of 0.57 and a beta of 0.66. The stock’s fifty day moving average price is $26.50 and its 200-day moving average price is $27.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.96.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings results on Wednesday, November 19th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.15. The firm had revenue of $20.45 billion for the quarter, compared to the consensus estimate of $20.09 billion. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%. As a group, research analysts anticipate that Lenovo Group Ltd. will post 2.06 EPS 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.