Zegona Communications (LON:ZEG) Earns Buy Rating from Canaccord Genuity Group

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

Zegona Communications Stock Up 1.8 %

ZEG stock traded up GBX 10 ($0.13) during midday trading on Tuesday, hitting GBX 565 ($7.13). The company’s stock had a trading volume of 1,261,565 shares, compared to its average volume of 678,751. The firm has a market capitalization of £5.24 billion, a price-to-earnings ratio of -46.85 and a beta of 2.80. Zegona Communications has a 12 month low of GBX 194 ($2.45) and a 12 month high of GBX 595 ($7.51). The company has a 50 day moving average of GBX 446.53 and a two-hundred day moving average of GBX 378.70.

Insider Activity at Zegona Communications

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