Zegona Communications (LON:ZEG) Shares Up 1.5% – Here’s Why

Zegona Communications plc (LON:ZEG)’s share price traded up 1.5% on Wednesday . The company traded as high as GBX 1,824 and last traded at GBX 1,807.50. 546,681 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,344,597 shares. The stock had previously closed at GBX 1,780.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price target on shares of Zegona Communications from GBX 1,500 to GBX 2,150 and gave the company a “buy” rating in a report on Monday, January 12th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Zegona Communications presently has an average rating of “Buy” and an average price target of GBX 1,683.33.

Zegona Communications Trading Up 1.5%

The company has a current ratio of 0.58, a quick ratio of 6.23 and a debt-to-equity ratio of 608.59. The business’s fifty day simple moving average is GBX 1,735.12 and its two-hundred day simple moving average is GBX 1,503.32. The stock has a market capitalization of £4.13 billion, a P/E ratio of 164.32 and a beta of 3.52.

About Zegona Communications

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.

In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.