Short Interest in Lenovo Group Ltd. (OTCMKTS:LNVGY) Rises By 104.1%

Key Points

• Short interest in Lenovo Group surged 104.1% in June, rising to 47,887 shares as of June 30 from 23,463 shares on June 15. Even so, short interest remains very low at about 0.0% of shares outstanding, with a short-interest ratio of just 0.3 days.
• The stock traded slightly lower, falling 0.6% to $59.81 on Wednesday, while still sitting near the top of its 52-week range. Lenovo’s market cap is about $37.1 billion, and the shares trade above both their 50-day and 200-day moving averages.
• Lenovo posted stronger-than-expected quarterly results, reporting EPS of $0.82 versus the $0.54 estimate and revenue of $21.59 billion versus $19.39 billion expected. Analyst sentiment is generally positive, with one recent upgrade to strong buy and an average rating of Buy.

Lenovo Group Ltd. (OTCMKTS:LNVGY - Get Free Report) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 47,887 shares, an increase of 104.1% from the June 15th total of 23,463 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 169,806 shares, the short-interest ratio is currently 0.3 days.

Lenovo Group Trading Down 0.6%

Shares of OTCMKTS:LNVGY traded down $0.39 on Wednesday, reaching $59.81. 91,266 shares of the company traded hands, compared to its average volume of 122,465. The business's 50-day simple moving average is $52.14 and its 200 day simple moving average is $34.32. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Lenovo Group has a 52 week low of $21.00 and a 52 week high of $68.79. The stock has a market capitalization of $37.10 billion, a P/E ratio of 21.59 and a beta of 1.12.

Lenovo Group (OTCMKTS:LNVGY - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, beating 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. As a group, equities analysts anticipate that Lenovo Group will post 3.59 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Lenovo Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

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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