Henderson Land Development (OTCMKTS:HLDCY) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Henderson Land Development stock price has increased, crossing above its fifty-day moving average of $3.32, reaching a high of $3.47 during trading.
• HSBC Global Research upgraded the company's shares from a "hold" rating to a "strong-buy" rating, indicating improved investor confidence.
• The company recently increased its dividend to $0.1473 per share, representing a substantial yield of 647.0%, up from the previous dividend of $0.05.

Henderson Land Development Co. (OTCMKTS:HLDCY - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.32 and traded as high as $3.47. Henderson Land Development shares last traded at $3.41, with a volume of 61,727 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Hsbc Global Res upgraded shares of Henderson Land Development from a "hold" rating to a "strong-buy" rating in a report on Monday, June 30th.

Henderson Land Development Trading Up 0.3%

The stock's 50 day moving average price is $3.34 and its two-hundred day moving average price is $2.98. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.18.

Henderson Land Development Increases Dividend

The business also recently announced a dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 9th were given a $0.1473 dividend. This represents a dividend yield of 647.0%. This is a positive change from Henderson Land Development's previous dividend of $0.05. The ex-dividend date was Friday, June 6th.

About Henderson Land Development

Henderson Land Development Company Limited, an investment holding company, engages in the property development and investment activities in Hong Kong and Mainland China. The company operates through Property Development, Property Leasing, Department Stores and Supermarket-Cum-Stores Operations, Hotel Room Operation, Other Businesses, and Utility and Energy segments.