Hongkong Land (OTCMKTS:HNGKY) Shares Gap Up - Here's What Happened

Key Points

• Hongkong Land gapped up premarket, opening at $43.1480 versus the prior close of $41.50 and last trading at $43.1480 on a volume of 771 shares, about a 0.6% intraday rise.
• Goldman Sachs upgraded the shares to a "Buy," and MarketBeat shows a consensus rating of "Buy" for the stock.
• The stock is trading above key averages with a 50-day moving average of $41.14 and a 200-day moving average of $35.50, suggesting strength across short- and long-term technicals.

Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $41.50, but opened at $43.1480. Hongkong Land shares last traded at $43.1480, with a volume of 771 shares.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Hongkong Land to a "buy" rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".

Hongkong Land Stock Up 0.6%

The company has a 50 day moving average of $41.14 and a 200-day moving average of $35.50.

About Hongkong Land

Hongkong Land Holdings Limited OTCMKTS: HNGKY is a leading property investment, management and development group focused on premier real estate in Asia's major financial centres. Established in 1889, the company specialises in owning, managing and developing a diversified portfolio that spans premium office towers, retail complexes, select residential schemes and hospitality assets.

The group's flagship properties include landmark office developments such as Jardine House and Exchange Square in Central, Hong Kong, alongside The Landmark retail precinct.

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