Zegona Communications (LON:ZEG) Sets New 52-Week High - Time to Buy?

Key Points

• Shares of Zegona Communications reached a new 52-week high at GBX 836 ($11.23) during trading, closing at GBX 828 ($11.13).
• Canaccord Genuity raised their price target for Zegona from GBX 825 ($11.09) to GBX 980 ($13.17), maintaining a "buy" rating.
• The company focuses on strategic investments in the European TMT sector and employs a "Buy-Fix-Sell" strategy to enhance shareholder value.

Zegona Communications plc (LON:ZEG - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as GBX 836 ($11.08) and last traded at GBX 828 ($10.98), with a volume of 280097 shares changing hands. The stock had previously closed at GBX 818 ($10.85).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price on shares of Zegona Communications from GBX 825 ($10.94) to GBX 980 ($12.99) and gave the company a "buy" rating in a report on Monday, July 21st.

Zegona Communications Stock Performance

The company has a market cap of £8.23 billion, a PE ratio of -73.63 and a beta of 2.80. The company's 50-day simple moving average is GBX 736.24 and its 200 day simple moving average is GBX 636.66.

Zegona Communications Company Profile

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.