Zegona Communications (LON:ZEG) Reaches New 12-Month High – Still a Buy?

Zegona Communications plc (LON:ZEG)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 630 ($8.17) and last traded at GBX 625 ($8.10), with a volume of 1051029 shares trading hands. The stock had previously closed at GBX 600 ($7.78).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 825 ($10.70) target price on shares of Zegona Communications in a report on Tuesday, February 25th.

Zegona Communications Stock Up 1.5 %

The company has a market cap of £6.44 billion, a PE ratio of -57.63 and a beta of 2.80. The stock has a 50-day moving average of GBX 518.14 and a 200-day moving average of GBX 408.23.

Insider Buying and Selling at Zegona Communications

In related news, insider Richard Williams purchased 12,363 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of GBX 404 ($5.24) per share, with a total value of £49,946.52 ($64,764.68). 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.