Zegona Communications (LON:ZEG) Reaches New 1-Year High – Should You Buy?

Zegona Communications plc (LON:ZEG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 505 ($6.30) and last traded at GBX 498 ($6.22), with a volume of 704904 shares traded. The stock had previously closed at GBX 488 ($6.09).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price target on Zegona Communications from GBX 945 ($11.79) to GBX 825 ($10.30) and set a “buy” rating on the stock in a report on Tuesday, January 7th.

Zegona Communications Price Performance

The company has a debt-to-equity ratio of 4.22, a quick ratio of 6.23 and a current ratio of 67.85. The business has a fifty day simple moving average of GBX 382.72 and a 200-day simple moving average of GBX 353.90. The stock has a market capitalization of £3.51 billion, a P/E ratio of 5,533.33 and a beta of 2.80.

Insider Buying and Selling

In other news, insider Ashley G. Martin bought 12,750 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of GBX 330 ($4.12) per share, for a total transaction of £42,075 ($52,514.98). Also, insider Richard Williams bought 12,363 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average price of GBX 404 ($5.04) per share, for a total transaction of £49,946.52 ($62,339.64). 74.68% of the stock is owned by company insiders.

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.