Lenovo Group (OTCMKTS:LNVGF) Trading 8.5% Higher – Here’s Why

Lenovo Group Limited (OTCMKTS:LNVGF) shot up 8.5% on Tuesday . The company traded as high as $1.30 and last traded at $1.2370. 12,668 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 73,781 shares. The stock had previously closed at $1.14.

Lenovo Group Trading Up 8.5%

The stock’s fifty day moving average is $1.24 and its two-hundred day moving average is $1.36.

Hedge Funds Weigh In On Lenovo Group

A hedge fund recently raised its stake in Lenovo Group stock. Boston Common Asset Management LLC raised its stake in Lenovo Group Limited (OTCMKTS:LNVGF) by 84.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,221,984 shares of the company’s stock after buying an additional 1,934,800 shares during the quarter. Boston Common Asset Management LLC’s holdings in Lenovo Group were worth $6,268,000 at the end of the most recent reporting period. Institutional investors own 23.25% of the company’s stock.

Lenovo Group Company Profile

Lenovo Group (OTCMKTS:LNVGF) is a multinational technology company that designs, develops, manufactures and markets a broad range of computing and smart devices. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004 and has since grown into one of the world’s largest PC vendors. In 2005, Lenovo completed its landmark acquisition of IBM’s personal computer business, significantly expanding its global footprint and product portfolio.

The company’s core business activities include the production of laptops, desktops, workstations and servers, along with complementary products such as tablets, smartphones, electronic storage devices and smart televisions.