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

Zegona Communications (LON:ZEG) had its price target lowered by investment analysts at Canaccord Genuity Group from GBX 945 ($11.82) to GBX 825 ($10.32) in a report released on Tuesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 97.37% from the stock’s current price.

Zegona Communications Stock Performance

Shares of LON:ZEG traded down GBX 4 ($0.05) during trading on Tuesday, reaching GBX 418 ($5.23). 1,000,815 shares of the stock were exchanged, compared to its average volume of 742,219. 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 50-day moving average price of GBX 344.78 and a 200-day moving average price of GBX 333.39. Zegona Communications has a 12 month low of GBX 174 ($2.18) and a 12 month high of GBX 436 ($5.45). The firm has a market cap of £2.94 billion, a PE ratio of 4,644.44 and a beta of 2.80.

Insider Activity

In other news, insider Ashley G. Martin bought 12,750 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of GBX 330 ($4.13) per share, with a total value of £42,075 ($52,639.81). 74.68% of the stock is currently owned by 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.