Zegona Communications’ (ZEG) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Zegona Communications (LON:ZEG) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has a GBX 825 ($10.40) target price on the stock.

Zegona Communications Stock Performance

ZEG opened at GBX 565 ($7.12) on Tuesday. The stock has a market cap of £5.24 billion, a price-to-earnings ratio of -46.85 and a beta of 2.80. The stock’s 50 day moving average price is GBX 461.44 and its 200-day moving average price is GBX 383.38. Zegona Communications has a one year low of GBX 194 ($2.45) and a one year high of GBX 595 ($7.50).

Insider Activity

In other Zegona Communications news, insider Richard Williams bought 12,363 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of GBX 404 ($5.09) per share, with a total value of £49,946.52 ($62,952.51). Also, insider Ashley G. Martin bought 12,750 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of GBX 330 ($4.16) per share, for a total transaction of £42,075 ($53,031.26). Insiders own 74.68% of the company’s stock.

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.