Shares of Zegona Communications plc (LON:ZEG - Get Free Report) rose 10% during trading on Thursday . The company traded as high as GBX 675 ($8.72) and last traded at GBX 660 ($8.52). Approximately 740,248 shares traded hands during trading, an increase of 16% from the average daily volume of 636,126 shares. The stock had previously closed at GBX 600 ($7.75).
Analysts Set New Price Targets
Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 825 ($10.65) target price on shares of Zegona Communications in a research note on Tuesday, February 25th.
Check Out Our Latest Stock Report on Zegona Communications
Zegona Communications Price Performance
The business's 50 day simple moving average is GBX 524.32 and its 200 day simple moving average is GBX 410.28. The company has a market capitalization of £6.54 billion, a PE ratio of -58.46 and a beta of 2.80.
Insider Activity
In related news, insider Richard Williams purchased 12,363 shares of Zegona Communications stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of GBX 404 ($5.22) per share, with a total value of £49,946.52 ($64,488.73). Insiders own 74.68% of the company's stock.
About Zegona Communications
(
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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.
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