New World Development (OTCMKTS:NDVLY) Share Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• The share price of New World Development has crossed below its 50-day moving average of $0.45, trading as low as $0.44 during Thursday's trading session.
• Goldman Sachs upgraded New World Development's rating from "strong sell" to "hold," indicating a potential shift in market sentiment towards the stock.
• The company's financial ratios reflect strong liquidity, with a current ratio of 4.89 and a debt-to-equity ratio of 0.70, suggesting a stable financial position.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.45 and traded as low as $0.44. New World Development shares last traded at $0.45, with a volume of 1,003 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised New World Development from a "strong sell" rating to a "hold" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, New World Development currently has a consensus rating of "Hold".

New World Development Stock Performance

The firm has a fifty day moving average price of $0.45 and a 200 day moving average price of $0.37. The company has a quick ratio of 4.89, a current ratio of 4.89 and a debt-to-equity ratio of 0.70.

About New World Development

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.