Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Here’s What Happened

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down prior to trading 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 traded.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Lenovo Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Lenovo Group Trading Down 8.5%

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

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.