Zegona Communications (LON:ZEG) Shares Cross Below 50 Day Moving Average – What’s Next?

Zegona Communications plc (LON:ZEG) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 1,232.64 and traded as low as GBX 1,173.15. Zegona Communications shares last traded at GBX 1,180, with a volume of 144,781 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Berenberg Bank boosted their target price on Zegona Communications from GBX 1,000 to GBX 1,350 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 1,500 price target on shares of Zegona Communications in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Zegona Communications presently has an average rating of “Buy” and a consensus price target of GBX 1,466.67.

Zegona Communications Stock Down 0.8%

The company has a market cap of £8.89 billion, a P/E ratio of 106.46 and a beta of 2.80. The business has a fifty day simple moving average of GBX 1,232.64 and a two-hundred day simple moving average of GBX 961.11.

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.