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

Key Points

• New World Development shares opened at $0.45, up from a previous close of $0.40, showing a significant early trading increase.
• Goldman Sachs upgraded the stock’s rating from "strong sell" to "hold", contributing to a positive market sentiment.
• The company reported a stock price increase of 15.1%, with current trading at $0.47 and robust trading volume of 124,506 shares.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $0.40, but opened at $0.45. New World Development shares last traded at $0.47, with a volume of 124,506 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of New World Development from a "strong sell" rating to a "hold" rating in a research note 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 a consensus rating of "Hold".

New World Development Price Performance

The firm's 50 day simple moving average is $0.39 and its two-hundred day simple moving average is $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.