New World Development (OTCMKTS:NDVLY) Shares Gap Down - What's Next?

Key Points

• New World Development shares opened at $0.46, after closing at $0.48, reflecting a gap down before the market opened on Tuesday.
• The Goldman Sachs Group upgraded the company's rating from "strong sell" to "hold," indicating a more optimistic outlook.
• New World Development's stock has seen a decline of 3.2%, with moving averages of $0.40 (50-day) and $0.35 (200-day) suggesting recent trading challenges.

Shares of New World Development Co. (OTCMKTS:NDVLY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $0.48, but opened at $0.46. New World Development shares last traded at $0.46, with a volume of 124 shares.

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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

New World Development Stock Down 3.2%

The business has a 50 day simple moving average of $0.40 and a 200-day simple moving average 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.

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