Canaccord Genuity Group Has Lowered Expectations for Zegona Communications (LON:ZEG) Stock Price

Zegona Communications (LON:ZEG) had its price objective decreased by Canaccord Genuity Group from GBX 945 ($11.68) to GBX 825 ($10.20) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 102.21% from the company’s previous close.

Zegona Communications Trading Down 3.8 %

Shares of Zegona Communications stock opened at GBX 408 ($5.04) on Tuesday. The stock has a 50 day moving average of GBX 346.66 and a 200 day moving average of GBX 334.47. The company has a debt-to-equity ratio of 4.22, a quick ratio of 6.23 and a current ratio of 67.85. The firm has a market capitalization of £2.87 billion, a price-to-earnings ratio of 4,533.33 and a beta of 2.80. Zegona Communications has a fifty-two week low of GBX 174 ($2.15) and a fifty-two week high of GBX 436 ($5.39).

Insider Buying and Selling

In other news, insider Ashley G. Martin acquired 12,750 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of GBX 330 ($4.08) per share, with a total value of £42,075 ($52,008.65). Corporate insiders own 74.68% of the company’s stock.

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.