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

Key Points

• Short interest fell 32.5% — short interest declined to 75,028 shares as of March 31 (from 111,138 on March 15), leaving a days-to-cover of about 0.5 based on average daily volume.
• Lenovo beat quarterly estimates with EPS of $0.84 versus $0.62 expected and revenue of $22.2B, and its stock recently traded near $26.87 with a market cap of $16.66B and a P/E of 12.5.
• Zacks upgraded the stock to a "Hold" and the consensus analyst rating for Lenovo is currently "Hold".

Lenovo Group Ltd. (OTCMKTS:LNVGY - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 75,028 shares, a decrease of 32.5% from the March 15th total of 111,138 shares. Based on an average daily trading volume, of 152,656 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company's stock are sold short.

Lenovo Group Stock Performance

OTCMKTS:LNVGY traded up $0.83 during trading on Tuesday, reaching $26.87. The company's stock had a trading volume of 32,527 shares, compared to its average volume of 136,376. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.96. The firm has a 50 day moving average of $24.13 and a 200-day moving average of $25.46. Lenovo Group has a 12 month low of $19.81 and a 12 month high of $32.69.

Lenovo Group (OTCMKTS:LNVGY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.22. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $20.65 billion. Lenovo Group had a return on equity of 25.60% and a net margin of 1.89%. Research analysts expect that Lenovo Group will post 2.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Lenovo Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

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.

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