Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Here’s Why

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Friday. The stock had previously closed at $47.67, but opened at $45.5950. Lenovo Group shares last traded at $44.98, with a volume of 9,438 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Lenovo Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has a consensus rating of “Hold”.

Lenovo Group Price Performance

The company has a market capitalization of $28.80 billion, a P/E ratio of 43.60 and a beta of 1.50. The company has a fifty day moving average price of $73.13 and a 200 day moving average price of $51.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.67.

About Lenovo Group

Lenovo Group is a global technology company that develops, manufactures and sells personal computers, smartphones, tablets, servers, storage systems and other connected devices. Its offerings also include software, IT support, and consulting and managed services for businesses and public-sector organizations. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004. Its expansion has included the acquisition of IBM’s personal computer business in 2005 and Motorola Mobility’s handset business in 2014.