Ermenegildo Zegna (NYSE:ZGN) Sees Unusually-High Trading Volume – What’s Next?

Ermenegildo Zegna (NYSE:ZGN) saw unusually-high trading volume on Thursday . Approximately 323,433 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 587,996 shares.The stock last traded at $8.02 and had previously closed at $7.69.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They set an “underweight” rating and a $7.20 price objective for the company. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and reduced their price target for the company from $9.40 to $8.90 in a research report on Thursday. Finally, BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd.

Ermenegildo Zegna Price Performance

The stock’s 50 day simple moving average is $8.09 and its 200 day simple moving average is $9.14. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Ermenegildo Zegna

Hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of Ermenegildo Zegna during the 3rd quarter valued at $149,000. XTX Topco Ltd bought a new position in shares of Ermenegildo Zegna during the third quarter valued at about $215,000. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at about $222,000. SG Americas Securities LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at about $330,000. Finally, PDT Partners LLC boosted its holdings in Ermenegildo Zegna by 144.0% during the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after acquiring an additional 32,779 shares during the period. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.