Lenovo Group (OTCMKTS:LNVGY) Sees Strong Trading Volume – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY) saw strong trading volume on Monday . 81,349 shares were traded during trading, an increase of 163% from the previous session’s volume of 30,955 shares.The stock last traded at $24.63 and had previously closed at $24.60.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Lenovo Group Price Performance

The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $25.95 and its 200 day simple moving average is $27.12. The firm has a market capitalization of $15.34 billion, a P/E ratio of 10.13, a PEG ratio of 0.58 and a beta of 0.61.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data 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. Lenovo Group had a net margin of 2.17% and a return on equity of 28.15%. The firm had revenue of $20.45 billion during the quarter, compared to analyst estimates of $20.09 billion. Sell-side analysts forecast that Lenovo Group Ltd. will post 2.06 earnings per share for the current 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.