China Overseas Land & Investment (OTCMKTS:CAOVY) Shares Gap Up - Here's Why

Key Points

• China Overseas Land & Investment's stock gapped up pre-market, opening at $8.60 after closing at $7.32 (a 19.4% jump), with only 315 shares traded at the open.
• Zacks Research recently upgraded the stock to a Hold, and MarketBeat shows a consensus rating of Hold based on one analyst.
• The company is a major Hong Kong real-estate developer and a core subsidiary of China State Construction Engineering Corporation (CSCEC), and its 50-day and 200-day simple moving averages are $8.20 and $8.48, leaving the current price near key technical levels.

China Overseas Land & Investment Limited (OTCMKTS:CAOVY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $7.32, but opened at $8.60. China Overseas Land & Investment shares last traded at $8.60, with a volume of 315 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded China Overseas Land & Investment to a "hold" rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".

China Overseas Land & Investment Stock Up 19.4%

The firm has a 50 day simple moving average of $8.20 and a two-hundred day simple moving average of $8.48.

China Overseas Land & Investment Company Profile

China Overseas Land & Investment OTCMKTS: CAOVY is a Hong Kong–based real estate developer and property investor with origins dating back to 1979. The company is a core subsidiary of China State Construction Engineering Corporation (CSCEC), one of the world’s largest construction and engineering conglomerates. Since its initial public offering on the Hong Kong Stock Exchange in the early 1990s, China Overseas Land & Investment has expanded its footprint to become one of the leading real estate groups in Greater China.

The company’s primary activities encompass residential and commercial property development, property investment, hotel operations and property management services.

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