Lenovo Group Ltd. (OTCMKTS:LNVGY) Sees Large Decline in Short Interest

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 23,463 shares, a decline of 76.9% from the May 31st total of 101,751 shares. Based on an average daily volume of 388,924 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Lenovo Group Stock Down 0.0%

LNVGY opened at $60.47 on Friday. The business has a 50 day moving average price of $45.32 and a 200 day moving average price of $31.44. The firm has a market cap of $37.51 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. Lenovo Group has a twelve month low of $21.00 and a twelve month high of $68.79. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.71 and a current ratio of 0.95.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. The company had revenue of $21.59 billion during the quarter, compared to analyst estimates of $19.39 billion. Research analysts forecast that Lenovo Group will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

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.