Zegona Communications (LON:ZEG) Reaches New 12-Month High - Here's Why

Zegona Communications plc (LON:ZEG - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 575 ($7.24) and last traded at GBX 570 ($7.17), with a volume of 1000497 shares changing hands. The stock had previously closed at GBX 530 ($6.67).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their price target on Zegona Communications from GBX 945 ($11.89) to GBX 825 ($10.38) and set a "buy" rating for the company in a report on Tuesday, January 7th.

Zegona Communications Stock Performance

The firm has a fifty day simple moving average of GBX 413.37 and a 200-day simple moving average of GBX 367.88. The firm has a market cap of £5.28 billion, a price-to-earnings ratio of -47.26 and a beta of 2.80.

Insider Buying and Selling at Zegona Communications

In other news, insider Richard Williams bought 12,363 shares of the company's stock in a transaction dated Monday, January 13th. The stock was bought at an average price of GBX 404 ($5.08) per share, with a total value of £49,946.52 ($62,865.35). Also, insider Ashley G. Martin bought 12,750 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of GBX 330 ($4.15) per share, with a total value of £42,075 ($52,957.84). 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.