Short Interest in Lenovo Group Ltd. (OTCMKTS:LNVGY) Increases By 1,678.6%

Lenovo Group Ltd. (OTCMKTS:LNVGYGet Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 718,862 shares, an increase of 1,678.6% from the July 30th total of 40,418 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 399,939 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Lenovo Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Check Out Our Latest Analysis on Lenovo Group

Lenovo Group Price Performance

Lenovo Group stock traded up $3.78 during trading hours on Tuesday, hitting $79.86. 398,033 shares of the company traded hands, compared to its average volume of 339,208. Lenovo Group has a 1-year low of $21.00 and a 1-year high of $89.99. 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 firm has a market cap of $49.53 billion, a P/E ratio of 77.53 and a beta of 1.14. The firm’s 50-day simple moving average is $64.44 and its two-hundred day simple moving average is $43.82.

Lenovo Group Company Profile

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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.

Further Reading

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