Zegona Communications (LON:ZEG) Hits New 1-Year High – Should You Buy?

Zegona Communications plc (LON:ZEG) hit a new 52-week high on Thursday . The company traded as high as GBX 439.88 ($5.45) and last traded at GBX 438 ($5.43), with a volume of 1414928 shares traded. The stock had previously closed at GBX 414 ($5.13).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their target price on Zegona Communications from GBX 945 ($11.71) to GBX 825 ($10.22) and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Zegona Communications Trading Up 7.3 %

The company has a debt-to-equity ratio of 4.22, a quick ratio of 6.23 and a current ratio of 67.85. The firm has a market cap of £3.31 billion, a PE ratio of 5,222.22 and a beta of 2.80. The stock has a 50-day simple moving average of GBX 376.56 and a two-hundred day simple moving average of GBX 350.93.

Insider Activity

In other Zegona Communications news, insider Richard Williams purchased 12,363 shares of Zegona Communications stock in a transaction dated Monday, January 13th. The stock was purchased at an average price of GBX 404 ($5.01) per share, with a total value of £49,946.52 ($61,899.27). Also, insider Ashley G. Martin acquired 12,750 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of GBX 330 ($4.09) per share, for a total transaction of £42,075 ($52,144.01). 74.68% of the stock is owned by corporate insiders.

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.