Zegona Communications (LON:ZEG) Reaches New 52-Week High – Time to Buy?

Zegona Communications plc (LON:ZEG)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as GBX 575 ($7.11) and last traded at GBX 570 ($7.04), with a volume of 1000497 shares. The stock had previously closed at GBX 530 ($6.55).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price target on Zegona Communications from GBX 945 ($11.68) to GBX 825 ($10.20) and set a “buy” rating for the company in a report on Tuesday, January 7th.

Zegona Communications Price Performance

The stock has a market capitalization of £4.05 billion, a price-to-earnings ratio of 6,388.89 and a beta of 2.80. 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 company has a fifty day simple moving average of GBX 395.45 and a two-hundred day simple moving average of GBX 360.79.

Insider Buying and Selling at Zegona Communications

In related news, insider Ashley G. Martin acquired 12,750 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of GBX 330 ($4.08) per share, with a total value of £42,075 ($51,995.80). Also, insider Richard Williams purchased 12,363 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was acquired at an average price of GBX 404 ($4.99) per share, for a total transaction of £49,946.52 ($61,723.33). 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.