New World Development (OTCMKTS:NDVLY) Shares Gap Down - Here's What Happened

Key Points

• New World Development's stock price gapped down from $0.53 to $0.43 before opening, yet last traded at $0.54 with a volume of 9,730 shares.
• Goldman Sachs upgraded New World Development from a "strong sell" to a "hold" rating, contributing to the stock's consensus rating of "Hold."
• The company maintains a strong financial position with a quick ratio of 4.89 and a debt-to-equity ratio of 0.70.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $0.53, but opened at $0.43. New World Development shares last traded at $0.54, with a volume of 9,730 shares.

Wall Street Analyst Weigh In

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

New World Development Price Performance

The company's 50 day moving average is $0.44 and its 200-day moving average is $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.