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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $54.80, but opened at $58.61. Lenovo Group shares last traded at $58.74, with a volume of 6,511 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Lenovo Group has a consensus rating of “Buy”.

Lenovo Group Stock Up 7.6%

The company has a market cap of $36.56 billion, a P/E ratio of 21.28 and a beta of 1.10. The stock has a 50-day moving average of $45.85 and a two-hundred day moving average of $31.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 0.95.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The business had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%. On average, research analysts anticipate that Lenovo Group Ltd. will post 3.59 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.