Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week Low – Here’s What Happened

Ermenegildo Zegna (NYSE:ZGN)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $6.57 and last traded at $6.66, with a volume of 279595 shares trading hands. The stock had previously closed at $7.38.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZGN. Bank of America raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen assumed coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They set a “hold” rating and a $10.00 target price for the company.

Ermenegildo Zegna Trading Down 11.2 %

The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $8.27. The firm has a market cap of $2.65 billion, a P/E ratio of 12.36 and a beta of 0.69.

Institutional Trading of Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of ZGN. SBI Securities Co. Ltd. purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $28,000. Entropy Technologies LP purchased a new position in shares of Ermenegildo Zegna during the fourth quarter valued at about $84,000. Mirabella Financial Services LLP purchased a new stake in Ermenegildo Zegna in the fourth quarter worth $87,000. Verition Fund Management LLC bought a new position in shares of Ermenegildo Zegna in the 3rd quarter worth about $149,000. Finally, Vident Advisory LLC bought a new stake in shares of Ermenegildo Zegna in the 4th quarter worth approximately $126,000. Institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.