Lenovo Group (OTCMKTS:LNVGY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) saw strong trading volume on Friday . 203,007 shares were traded during mid-day trading, an increase of 138% from the previous session’s volume of 85,342 shares.The stock last traded at $23.83 and had previously closed at $24.23.

Wall Street Analysts Forecast Growth

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

Lenovo Group Trading Down 1.6%

The company has a market capitalization of $14.79 billion, a P/E ratio of 9.77, a PEG ratio of 0.57 and a beta of 0.66. The business has a 50 day moving average price of $27.19 and a 200 day moving average price of $27.02. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.59.

Lenovo Group (OTCMKTS:LNVGY) last issued its quarterly earnings data on Wednesday, November 19th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.15. The firm had revenue of $20.45 billion during the quarter, compared to analysts’ expectations of $20.09 billion. Lenovo Group had a net margin of 2.17% and a return on equity of 28.73%. Analysts anticipate that Lenovo Group Ltd. will post 2.06 EPS for the current year.

About Lenovo Group

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.