Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Time to Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $54.05, but opened at $58.01. Lenovo Group shares last traded at $58.54, with a volume of 29,443 shares.

Analyst Upgrades and Downgrades

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

Lenovo Group Stock Performance

The business’s fifty day moving average price is $54.04 and its 200-day moving average price is $35.23. The stock has a market cap of $36.52 billion, a PE ratio of 21.26 and a beta of 1.12. 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 released its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. The firm had revenue of $21.59 billion during the quarter, compared to analysts’ expectations of $19.39 billion. As a group, equities research analysts forecast that Lenovo Group Ltd. will post 3.59 EPS for the current fiscal 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.