New World Development (OTCMKTS:NDVLY) Shares Gap Up - Still a Buy?

Key Points

• New World Development shares experienced a gap up, opening at $0.44 from a previous close of $0.42, with a trading volume of 218 shares.
• The Goldman Sachs Group upgraded the stock's rating from "strong sell" to "hold", while the overall average rating remains "hold".
• The company operates in the property development sector, encompassing residential, retail, office, and industrial properties, as well as commercial aircraft leasing and construction services.

Shares of New World Development Co. (OTCMKTS:NDVLY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $0.42, but opened at $0.44. New World Development shares last traded at $0.44, with a volume of 218 shares trading hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded 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, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

New World Development Trading Up 4.8%

The company has a 50 day moving average of $0.42 and a 200 day moving average of $0.36.

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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