New World Development (OTCMKTS:NDVLY) Shares Down 7.4% - Should You Sell?

Key Points

• New World Development shares experienced a significant drop of 7.4%, trading at $0.46 with a volume decline of 97% from its average daily trading volume.
• Goldman Sachs upgraded the company's rating from "strong sell" to "hold", indicating a shift in analysts' sentiment about the stock.
• The company operates in various sectors, including property development and commercial aircraft leasing, with its property portfolio spanning residential, retail, and office spaces primarily in Hong Kong and Mainland China.

Shares of New World Development Co. (OTCMKTS:NDVLY - Get Free Report) dropped 7.4% during mid-day trading on Thursday . The stock traded as low as $0.46 and last traded at $0.46. Approximately 315 shares traded hands during trading, a decline of 97% from the average daily volume of 12,512 shares. The stock had previously closed at $0.50.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded 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, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

New World Development Stock Down 3.7%

The company has a 50-day moving average price of $0.40 and a 200 day moving average price of $0.35.

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.