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

Zegona Communications plc (LON:ZEG) shares hit a new 52-week high on Thursday . The stock traded as high as GBX 595 ($7.69) and last traded at GBX 595 ($7.69), with a volume of 420625 shares trading hands. The stock had previously closed at GBX 555 ($7.17).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 825 ($10.66) target price on shares of Zegona Communications in a research note on Tuesday, February 25th.

Zegona Communications Price Performance

The company has a market cap of £5.47 billion, a price-to-earnings ratio of -48.92 and a beta of 2.80. The firm has a 50-day moving average price of GBX 483.56 and a 200 day moving average price of GBX 392.23.

Insider Buying and Selling at Zegona Communications

In other Zegona Communications news, insider Richard Williams acquired 12,363 shares of the business’s stock in a transaction on Monday, January 13th. The stock was purchased at an average price of GBX 404 ($5.22) per share, with a total value of £49,946.52 ($64,555.41). Also, insider Ashley G. Martin bought 12,750 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of GBX 330 ($4.27) per share, for a total transaction of £42,075 ($54,381.54). 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.