Canaccord Genuity Group Lowers Zegona Communications (LON:ZEG) Price Target to GBX 825

Zegona Communications (LON:ZEG) had its price target cut by Canaccord Genuity Group from GBX 945 ($11.68) to GBX 825 ($10.20) in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 102.21% from the stock’s previous close.

Zegona Communications Stock Performance

Shares of Zegona Communications stock opened at GBX 408 ($5.04) on Tuesday. The company has a quick ratio of 6.23, a current ratio of 67.85 and a debt-to-equity ratio of 4.22. The firm’s 50 day moving average is GBX 346.66 and its two-hundred day moving average is GBX 334.47. The firm has a market capitalization of £2.87 billion, a P/E ratio of 4,533.33 and a beta of 2.80. Zegona Communications has a 52 week low of GBX 174 ($2.15) and a 52 week high of GBX 436 ($5.39).

Insider Activity

In other Zegona Communications news, insider Ashley G. Martin bought 12,750 shares of Zegona Communications 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). 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.