Zegona Communications’ (ZEG) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Zegona Communications (LON:ZEG) in a research report released on Tuesday morning, MarketBeat Ratings reports. Canaccord Genuity Group currently has a GBX 825 ($10.46) price objective on the stock.

Zegona Communications Stock Performance

LON ZEG opened at GBX 565 ($7.16) on Tuesday. The stock has a 50-day simple moving average of GBX 446.53 and a two-hundred day simple moving average of GBX 378.70. The firm has a market capitalization of £5.24 billion, a P/E ratio of -46.85 and a beta of 2.80. Zegona Communications has a fifty-two week low of GBX 194 ($2.46) and a fifty-two week high of GBX 595 ($7.54).

Insider Buying and Selling at Zegona Communications

In other Zegona Communications news, insider Ashley G. Martin purchased 12,750 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of GBX 330 ($4.18) per share, for a total transaction of £42,075 ($53,327.00). Also, insider Richard Williams purchased 12,363 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of GBX 404 ($5.12) per share, with a total value of £49,946.52 ($63,303.57). Company 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.