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

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down prior to trading on Wednesday . The stock had previously closed at $23.98, but opened at $23.13. Lenovo Group shares last traded at $23.9950, with a volume of 5,312 shares.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Lenovo Group Stock Up 0.1%

The stock has a market cap of $14.89 billion, a PE ratio of 9.84, a PEG ratio of 0.56 and a beta of 0.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.71. The company has a 50 day moving average price of $26.60 and a two-hundred day moving average price of $27.05.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly earnings data on Wednesday, November 19th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.60 by $0.15. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%.The company had revenue of $20.45 billion for the quarter, compared to analysts’ expectations of $20.09 billion. Analysts expect that Lenovo Group Ltd. will post 2.06 EPS for the current year.

Lenovo Group Company Profile

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.