Ermenegildo Zegna (NYSE:ZGN) Sees Unusually-High Trading Volume – Still a Buy?

Ermenegildo Zegna (NYSE:ZGN) shares saw unusually-high trading volume on Thursday . Approximately 1,821,674 shares changed hands during mid-day trading, an increase of 232% from the previous session’s volume of 549,110 shares.The stock last traded at $7.43 and had previously closed at $7.15.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $9.80 in a research report on Monday, September 23rd.

Ermenegildo Zegna Trading Up 0.3 %

The business has a 50-day moving average price of $8.75 and a 200-day moving average price of $10.60. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC raised its position in Ermenegildo Zegna by 525.0% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after buying an additional 2,100 shares during the period. SG Americas Securities LLC acquired a new position in Ermenegildo Zegna during the third quarter valued at $330,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna during the first quarter valued at $353,000. Susquehanna Fundamental Investments LLC acquired a new position in Ermenegildo Zegna during the first quarter valued at $563,000. Finally, Quadrature Capital Ltd raised its position in Ermenegildo Zegna by 162.0% during the first quarter. Quadrature Capital Ltd now owns 101,067 shares of the company’s stock valued at $1,483,000 after buying an additional 62,488 shares during the period. 12.91% of the stock is owned by institutional investors and hedge funds.

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.