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

Zegona Communications plc (LON:ZEG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 505 ($6.26) and last traded at GBX 498 ($6.18), with a volume of 704904 shares traded. The stock had previously closed at GBX 488 ($6.05).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their target price on Zegona Communications from GBX 945 ($11.72) to GBX 825 ($10.23) and set a "buy" rating on the stock in a research report on Tuesday, January 7th.

Zegona Communications Stock Up 2.9 %

The company has a 50-day moving average of GBX 395.45 and a 200-day moving average of GBX 360.08. The company has a market capitalization of £3.73 billion, a price-to-earnings ratio of 5,888.89 and a beta of 2.80. The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22.

Insider Activity at Zegona Communications

In other news, insider Richard Williams acquired 12,363 shares of the business's stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of GBX 404 ($5.01) per share, with a total value of £49,946.52 ($61,953.01). Also, insider Ashley G. Martin acquired 12,750 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of GBX 330 ($4.09) per share, for a total transaction of £42,075 ($52,189.28). 74.68% of the stock is currently owned by corporate 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.