Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Should You Sell?

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Thursday. The stock had previously closed at $89.99, but opened at $83.50. Lenovo Group shares last traded at $82.50, with a volume of 33,072 shares.

Analysts Set New Price Targets

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

Lenovo Group Stock Performance

The company’s 50 day simple moving average is $81.01 and its 200 day simple moving average is $57.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 0.98. The stock has a market cap of $51.12 billion, a PE ratio of 79.95 and a beta of 1.27.

About Lenovo Group

Lenovo Group Limited is a global technology company that develops, manufactures and sells a broad range of information technology products and services. Its portfolio includes personal computers, laptops, workstations, tablets, smartphones, servers, storage systems, accessories and other smart devices. The company also provides information technology infrastructure, managed services, support and solutions for businesses, governments and other organizations.

Lenovo was founded in Beijing in 1984 and was originally known as Legend.