Henderson Land Development (OTCMKTS:HLDCY) Shares Gap Up - Time to Buy?

Key Points

• Henderson Land Development (OTCMKTS:HLDCY) gapped up — it closed at $3.65, opened at $3.9950 and last traded at $3.87 on light volume (4,349 shares), with the report noting the stock was up about 6.7%.
• Analyst upgrade: Goldman Sachs raised its rating from "sell" to "buy," and MarketBeat shows one Strong Buy and one Buy, giving the stock an average rating of "Strong Buy."
• Henderson Land is a Hong Kong-based property developer founded in 1976 that develops, sells and leases residential, commercial and retail properties, combining project sales with recurring rental income from investment properties.

Henderson Land Development Co. (OTCMKTS:HLDCY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $3.65, but opened at $3.9950. Henderson Land Development shares last traded at $3.87, with a volume of 4,349 shares.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of Henderson Land Development from a "sell" rating to a "buy" rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Henderson Land Development Stock Up 6.7%

The stock's 50 day moving average is $4.06 and its 200 day moving average is $3.77.

Henderson Land Development Company Profile

Henderson Land Development OTCMKTS: HLDCY is a Hong Kong-based property developer and investment company with a long track record in the real estate sector. Founded in 1976 by Lee Shau-kee, the company's core activities center on the development, sale and leasing of residential, commercial and retail properties. Its business model combines land acquisition and development with the ongoing management of investment properties to generate recurring rental income alongside project sales.

The company undertakes a range of property-related services, including property development, property investment, construction coordination and property management.

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