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

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued to investors on Tuesday,London Stock Exchange reports. They currently have a GBX 825 ($10.41) target price on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 46.02% from the stock’s previous close.

Zegona Communications Trading Up 1.8 %

Zegona Communications stock traded up GBX 10 ($0.13) during midday trading on Tuesday, hitting GBX 565 ($7.13). The stock had a trading volume of 1,261,565 shares, compared to its average volume of 678,751. The business has a fifty day moving average price of GBX 446.53 and a 200 day moving average price of GBX 378.70. Zegona Communications has a 12 month low of GBX 194 ($2.45) and a 12 month high of GBX 595 ($7.51). The stock has a market cap of £5.24 billion, a P/E ratio of -46.85 and a beta of 2.80.

Insider Activity at Zegona Communications

In other Zegona Communications news, insider Richard Williams acquired 12,363 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average price of GBX 404 ($5.10) per share, with a total value of £49,946.52 ($63,031.95). Also, insider Ashley G. Martin purchased 12,750 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of GBX 330 ($4.16) per share, for a total transaction of £42,075 ($53,098.18). Insiders own 74.68% of the company’s stock.

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.