Lenovo Group (OTCMKTS:LNVGF) Trading Down 3.4% – What’s Next?

Lenovo Group Limited (OTCMKTS:LNVGF) shares were down 3.4% during mid-day trading on Friday . The stock traded as low as $0.99 and last traded at $1.16. Approximately 6,151 shares changed hands during trading, a decline of 89% from the average daily volume of 54,770 shares. The stock had previously closed at $1.2010.

Lenovo Group Stock Down 3.4%

The business’s 50 day moving average price is $1.19 and its 200 day moving average price is $1.35.

Hedge Funds Weigh In On Lenovo Group

An institutional investor recently raised its position in Lenovo Group stock. Boston Common Asset Management LLC boosted its position in shares of Lenovo Group Limited (OTCMKTS:LNVGF) by 84.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,221,984 shares of the company’s stock after acquiring 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. Institutional investors and hedge funds own 23.25% of the company’s stock.

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.