Zegona Communications (LON:ZEG) Sets New 52-Week High – What’s Next?

Zegona Communications plc (LON:ZEG)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as GBX 434 ($5.36) and last traded at GBX 422 ($5.22), with a volume of 1419300 shares traded. The stock had previously closed at GBX 424 ($5.24).

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on shares of Zegona Communications from GBX 945 ($11.68) to GBX 825 ($10.20) and set a “buy” rating for the company in a research note on Tuesday.

Zegona Communications Trading Down 3.8 %

The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22. The firm has a market capitalization of £2.87 billion, a P/E ratio of 4,533.33 and a beta of 2.80. The business has a 50 day moving average of GBX 346.66 and a 200-day moving average of GBX 334.47.

Insider Transactions at Zegona Communications

In other news, insider Ashley G. Martin acquired 12,750 shares of Zegona Communications stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of GBX 330 ($4.08) per share, with a total value of £42,075 ($52,008.65). 74.68% of the stock is owned by 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.