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

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) 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 changing hands.

Analyst Upgrades and Downgrades

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

Lenovo Group Trading Up 9.0%

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 capitalization of $36.52 billion, a PE ratio of 21.26 and a beta of 1.12. The stock’s fifty day simple moving average is $54.04 and its 200 day simple moving average is $35.23.

Lenovo Group (OTCMKTS:LNVGY) last issued its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.28. The business had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. On average, sell-side analysts predict that Lenovo Group Ltd. will post 3.59 earnings per share for the current 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.