New World Development (OTCMKTS:NDVLY) Shares Gap Up - Time to Buy?

Key Points

• New World Development shares gapped up from $0.41 to $0.43 before the market opened, reflecting a trading volume of 177 shares.
• The stock was upgraded from a "strong sell" to a "hold" rating by The Goldman Sachs Group, indicating a shift in analyst sentiment.
• The company's 50-day moving average stands at $0.37, while its 200-day moving average is $0.34, suggesting potential future performance trends.

Shares of New World Development Co. (OTCMKTS:NDVLY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $0.41, but opened at $0.43. New World Development shares last traded at $0.43, with a volume of 177 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised 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, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

New World Development Stock Down 7.1%

The stock has a fifty day simple moving average of $0.38 and a 200 day simple moving average of $0.34.

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.