Lenovo Group (OTCMKTS:LNVGF) Shares Down 3.9% – Here’s Why

Lenovo Group Limited (OTCMKTS:LNVGF)’s share price fell 3.9% during trading on Tuesday . The stock traded as low as $1.12 and last traded at $1.12. 4,681 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 77,538 shares. The stock had previously closed at $1.1650.

Lenovo Group Trading Down 3.9%

The business’s 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.36.

Institutional Investors Weigh In On Lenovo Group

An institutional investor recently raised its position in Lenovo Group stock. Boston Common Asset Management LLC raised its stake in shares of Lenovo Group Limited (OTCMKTS:LNVGF) by 84.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,221,984 shares of the company’s stock after buying an additional 1,934,800 shares during the quarter. Boston Common Asset Management LLC’s holdings in Lenovo Group were worth $6,268,000 at the end of the most recent reporting period. 23.25% of the stock is owned by institutional investors.

Lenovo Group Company Profile

Lenovo Group (OTCMKTS:LNVGF) is a multinational technology company that designs, develops, manufactures and markets a broad range of computing and smart devices. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004 and has since grown into one of the world’s largest PC vendors. In 2005, Lenovo completed its landmark acquisition of IBM’s personal computer business, significantly expanding its global footprint and product portfolio.

The company’s core business activities include the production of laptops, desktops, workstations and servers, along with complementary products such as tablets, smartphones, electronic storage devices and smart televisions.