Zegona Communications (LON:ZEG) Sets New 52-Week High – Should You Buy?

Shares of Zegona Communications plc (LON:ZEG) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 505 ($6.28) and last traded at GBX 498 ($6.19), with a volume of 704904 shares traded. The stock had previously closed at GBX 488 ($6.07).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of Zegona Communications from GBX 945 ($11.75) to GBX 825 ($10.26) and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Zegona Communications Stock Down 1.9 %

The company has a fifty day moving average price of GBX 388.55 and a 200-day moving average price of GBX 357.17. The stock has a market capitalization of £3.56 billion, a P/E ratio of 5,611.11 and a beta of 2.80. The company has a quick ratio of 6.23, a current ratio of 67.85 and a debt-to-equity ratio of 4.22.

Insiders Place Their Bets

In related news, insider Richard Williams purchased 12,363 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of GBX 404 ($5.02) per share, for a total transaction of £49,946.52 ($62,114.81). Also, insider Ashley G. Martin acquired 12,750 shares of Zegona Communications stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of GBX 330 ($4.10) per share, for a total transaction of £42,075 ($52,325.58). Corporate 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.