Lenovo Group Ltd. (OTCMKTS:LNVGY) Sees Large Decline in Short Interest

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 84,198 shares, a drop of 88.3% from the August 15th total of 718,862 shares. Based on an average daily trading volume, of 816,154 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Lenovo Group Trading Down 1.0%

Shares of LNVGY stock traded down $0.80 during mid-day trading on Thursday, reaching $80.77. 108,328 shares of the stock traded hands, compared to its average volume of 356,211. The company has a market cap of $50.10 billion, a price-to-earnings ratio of 78.42 and a beta of 1.15. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $68.86 and its two-hundred day simple moving average is $48.13. Lenovo Group has a 1-year low of $21.00 and a 1-year high of $89.99.

Wall Street Analysts Forecast Growth

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

Lenovo Group Company Profile

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.