New World Development (OTCMKTS:NDVLY) Shares Down 10.6% - Here's Why

Key Points

• New World Development shares fell by 10.6% on Thursday, reaching a low of $0.44 and a significant decline in trading volume, down 91% from the average.
• The stock received a rating upgrade from Goldman Sachs, moving from a "strong sell" to a "hold," contributing to its current consensus rating of "Hold."
• The company is involved in various sectors including property development and investment, as well as commercial aircraft leasing and insurance services.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s share price traded down 10.6% during trading on Thursday . The company traded as low as $0.44 and last traded at $0.44. 1,160 shares traded hands during trading, a decline of 91% from the average session volume of 12,784 shares. The stock had previously closed at $0.49.

Analyst Upgrades and Downgrades

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

New World Development Trading Down 8.8%

The firm has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.36.

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.

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