Zegona Communications (LON:ZEG) Hits New 12-Month High – Here’s Why

Zegona Communications plc (LON:ZEG) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 575 ($7.16) and last traded at GBX 570 ($7.09), with a volume of 1000497 shares traded. The stock had previously closed at GBX 530 ($6.60).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their price objective on Zegona Communications from GBX 945 ($11.76) to GBX 825 ($10.27) and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Zegona Communications Trading Up 2.6 %

The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22. The stock has a market cap of £4.12 billion, a P/E ratio of 6,500.00 and a beta of 2.80. The business’s fifty day simple moving average is GBX 404.25 and its 200 day simple moving average is GBX 364.61.

Insider Transactions at Zegona Communications

In other news, insider Richard Williams acquired 12,363 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average cost of GBX 404 ($5.03) per share, for a total transaction of £49,946.52 ($62,168.93). Also, insider Ashley G. Martin acquired 12,750 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of GBX 330 ($4.11) per share, with a total value of £42,075 ($52,371.17). 74.68% of the stock is owned by company insiders.

About Zegona Communications

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.