Canaccord Genuity Group Cuts Zegona Communications (LON:ZEG) Price Target to GBX 825

Zegona Communications (LON:ZEG) had its price objective cut by Canaccord Genuity Group from GBX 945 ($11.63) to GBX 825 ($10.15) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Zegona Communications Stock Down 0.7 %

Shares of LON:ZEG opened at GBX 405.20 ($4.99) on Tuesday. The company has a debt-to-equity ratio of 4.22, a quick ratio of 6.23 and a current ratio of 67.85. Zegona Communications has a 52-week low of GBX 174 ($2.14) and a 52-week high of GBX 436 ($5.36). The business’s 50 day simple moving average is GBX 349.68 and its two-hundred day simple moving average is GBX 336.37. The firm has a market cap of £2.85 billion, a P/E ratio of 4,502.22 and a beta of 2.80.

Insider Buying and Selling at Zegona Communications

In related news, insider Ashley G. Martin purchased 12,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of GBX 330 ($4.06) per share, for a total transaction of £42,075 ($51,771.87). 74.68% of the stock is currently owned by company insiders.

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.