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Zegona Communications (LON:ZEG) Stock Price Down 10% - Here's What Happened

Zegona Communications logo with Communication Services background

Shares of Zegona Communications plc (LON:ZEG - Get Free Report) were down 10% on Wednesday . The stock traded as low as GBX 574 ($7.73) and last traded at GBX 664 ($8.94). Approximately 2,733,301 shares traded hands during mid-day trading, an increase of 391% from the average daily volume of 556,508 shares. The stock had previously closed at GBX 738 ($9.93).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 825 ($11.10) price target on shares of Zegona Communications in a report on Tuesday, February 25th.

Get Our Latest Research Report on Zegona Communications

Zegona Communications Price Performance

The stock has a market capitalization of £6.40 billion, a PE ratio of -57.21 and a beta of 2.80. The stock's 50 day simple moving average is GBX 656.17 and its two-hundred day simple moving average is GBX 525.54.

Zegona Communications Company Profile

(Get Free Report)

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.

Further Reading

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