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

Zegona Communications plc (LON:ZEG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 735 ($9.50) and last traded at GBX 695 ($8.98), with a volume of 463272 shares changing hands. The stock had previously closed at GBX 705 ($9.11).

Analysts Set New Price Targets

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

Zegona Communications Stock Performance

The company has a market cap of £6.44 billion, a PE ratio of -57.63 and a beta of 2.80. The firm’s 50 day moving average is GBX 530.26 and its 200-day moving average is GBX 413.05.

Insider Activity

In related news, insider Richard Williams purchased 12,363 shares of the company’s stock in a transaction on Monday, January 13th. The stock was acquired at an average cost of GBX 404 ($5.22) per share, for a total transaction of £49,946.52 ($64,538.73). Corporate 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.