Short Interest in New World Development Co. (OTCMKTS:NDVLY) Grows By 2,348.0%

Key Points

• New World Development Co. saw a massive increase in short interest of 2,348.0%, rising from 2,500 shares to 61,200 shares as of July 15th.
• The company's stock is currently trading at $0.35, with a recent upgrade from Goldman Sachs from a "strong sell" to a "hold" rating.
• New World Development operates in various sectors including property development and investment in Hong Kong and Mainland China, as well as commercial aircraft leasing and insurance services.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 61,200 shares, agrowthof2,348.0% from the June 30th total of 2,500 shares. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of New World Development from a "strong sell" rating to a "hold" rating in a research report on Monday, July 21st.

New World Development Trading Down 0.1%

NDVLY traded down $0.00 during midday trading on Tuesday, hitting $0.35. The company had a trading volume of 11,969 shares, compared to its average volume of 8,823. New World Development has a twelve month low of $0.21 and a twelve month high of $0.69. The firm's 50-day simple moving average is $0.34 and its 200-day simple moving average is $0.33.

New World Development Company Profile

New World Development Company Limited, an investment holding company, operates in the property development and investment business in Hong Kong and Mainland China. Its property portfolio includes residential, retail, office, and industrial properties. The company also provides commercial aircraft leasing services; operates expressways; and constructs residential and commercial projects, as well as whole life, term, dread disease, medical, disability, and accident insurance products.