Zegona Communications (LON:ZEG) Price Target Cut to GBX 825 by Analysts at Canaccord Genuity Group

Zegona Communications (LON:ZEG) had its target price cut by Canaccord Genuity Group from GBX 945 ($11.63) to GBX 825 ($10.15) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Zegona Communications Stock Performance

Shares of ZEG opened at GBX 405.20 ($4.99) on Tuesday. The stock has a 50 day moving average of GBX 349.68 and a 200 day moving average of GBX 336.37. The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22. Zegona Communications has a 12 month low of GBX 174 ($2.14) and a 12 month high of GBX 436 ($5.36). The company has a market capitalization of £2.85 billion, a price-to-earnings ratio of 4,502.22 and a beta of 2.80.

Insider Buying and Selling at Zegona Communications

In other news, insider Ashley G. Martin purchased 12,750 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of GBX 330 ($4.06) per share, for a total transaction of £42,075 ($51,771.87). Corporate insiders own 74.68% of the company’s stock.

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.