Ermenegildo Zegna (NYSE:ZGN) Sees Strong Trading Volume – Still a Buy?

Ermenegildo Zegna (NYSE:ZGN) saw unusually-high trading volume on Friday . Approximately 990,266 shares changed hands during mid-day trading, an increase of 224% from the previous session’s volume of 305,265 shares.The stock last traded at $8.06 and had previously closed at $8.00.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ZGN. Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $13.00 to $9.80 in a research report on Monday, September 23rd. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 target price for the company. Finally, BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd.

Ermenegildo Zegna Trading Down 0.2 %

The firm’s 50-day moving average price is $8.03 and its 200-day moving average price is $9.44. 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 Trading of Ermenegildo Zegna

A number of large investors have recently made changes to their positions in the business. nVerses Capital LLC increased its stake in Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after purchasing an additional 2,100 shares during the period. Verition Fund Management LLC purchased a new stake in Ermenegildo Zegna in the 3rd quarter valued at about $149,000. XTX Topco Ltd bought a new position in Ermenegildo Zegna in the 3rd quarter worth about $215,000. Jane Street Group LLC purchased a new position in shares of Ermenegildo Zegna during the third quarter worth approximately $222,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $330,000. 12.91% of the stock is currently owned by institutional investors.

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.