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

Zegona Communications plc (LON:ZEG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as GBX 630 ($8.19) and last traded at GBX 625 ($8.13), with a volume of 1051029 shares. The stock had previously closed at GBX 600 ($7.80).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 825 ($10.73) price target on shares of Zegona Communications in a research report on Tuesday, February 25th.

Zegona Communications Stock Performance

The company has a market cap of £5.79 billion, a price-to-earnings ratio of -51.82 and a beta of 2.80. The firm has a fifty day moving average price of GBX 507.50 and a 200 day moving average price of GBX 403.82.

Insider Activity

In other Zegona Communications news, insider Richard Williams purchased 12,363 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were acquired at an average price of GBX 404 ($5.25) per share, for a total transaction of £49,946.52 ($64,933.07). 74.68% of the stock is currently owned by insiders.

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.