New World Development (OTCMKTS:NDVLY) Shares Cross Below Fifty Day Moving Average - Here's Why

Key Points

• New World Development's share price fell below its 50-day moving average of $0.38, trading as low as $0.36 before closing at $0.37.
• Goldman Sachs upgraded the stock's rating from "strong sell" to "hold," reflecting a cautious optimism from analysts.
• The company's property portfolio includes a diverse range of assets such as residential, retail, and industrial properties, in addition to offering commercial aircraft leasing services.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.38 and traded as low as $0.36. New World Development shares last traded at $0.37, with a volume of 11,680 shares changing hands.

Analyst Ratings Changes

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

New World Development Stock Performance

The stock's 50 day simple moving average is $0.38 and its 200-day simple moving average is $0.35.

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.