Lenovo Group (OTCMKTS:LNVGF) Shares Down 3.4% – Here’s Why

Lenovo Group Limited (OTCMKTS:LNVGF)’s share price was down 3.4% during mid-day trading on Friday . The company traded as low as $0.99 and last traded at $1.16. Approximately 6,151 shares were traded 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 company’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.35.

Institutional Investors Weigh In On Lenovo Group

A hedge fund recently raised its stake in Lenovo Group stock. Boston Common Asset Management LLC lifted its stake in Lenovo Group Limited (OTCMKTS:LNVGF) by 84.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,221,984 shares of the company’s stock after purchasing an additional 1,934,800 shares during the period. Boston Common Asset Management LLC’s holdings in Lenovo Group were worth $6,268,000 at the end of the most recent reporting period. 23.25% of the stock is currently owned by hedge funds and other institutional investors.

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.