Lenovo Group (OTCMKTS:LNVGY) Sees Large Volume Increase – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares saw unusually-strong trading volume on Monday . Approximately 123,736 shares were traded during mid-day trading, an increase of 42% from the previous session’s volume of 87,170 shares.The stock last traded at $23.6909 and had previously closed at $24.24.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Lenovo Group Stock Down 2.5%

The stock has a fifty day moving average price of $26.50 and a two-hundred day moving average price of $27.10. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.57 and a beta of 0.66. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.59.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly earnings results on Wednesday, November 19th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.15. The business had revenue of $20.45 billion for the quarter, compared to analyst estimates of $20.09 billion. Lenovo Group had a net margin of 2.17% and a return on equity of 28.15%. As a group, sell-side analysts expect that Lenovo Group Ltd. will post 2.06 EPS for the current year.

About Lenovo Group

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.