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

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down prior to trading on Thursday. The stock had previously closed at $74.30, but opened at $67.02. Lenovo Group shares last traded at $66.10, with a volume of 30,147 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Lenovo Group Trading Down 9.9%

The company has a 50 day moving average of $82.73 and a 200 day moving average of $59.27. The firm has a market cap of $41.56 billion, a P/E ratio of 65.01 and a beta of 1.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 0.98.

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.