Zegona Communications (LON:ZEG) Reaches New 1-Year High – Still a Buy?

Zegona Communications plc (LON:ZEG) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 434 ($5.36) and last traded at GBX 422 ($5.22), with a volume of 1419300 shares traded. The stock had previously closed at GBX 424 ($5.24).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their price target on Zegona Communications from GBX 945 ($11.68) to GBX 825 ($10.20) and set a “buy” rating for the company in a research note on Tuesday.

Zegona Communications Stock Performance

The company has a quick ratio of 6.23, a current ratio of 67.85 and a debt-to-equity ratio of 4.22. The stock’s fifty day moving average is GBX 346.66 and its two-hundred day moving average is GBX 334.47. The firm has a market capitalization of £2.87 billion, a price-to-earnings ratio of 4,533.33 and a beta of 2.80.

Insider Activity

In other Zegona Communications news, insider Ashley G. Martin acquired 12,750 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of GBX 330 ($4.08) per share, with a total value of £42,075 ($52,008.65). Insiders own 74.68% of the company’s stock.

About Zegona Communications

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.