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

Key Points

• New World Development's shares gapped up from $0.41 to $0.48 at market open on Monday, indicating a significant price increase.
• The Goldman Sachs Group upgraded New World Development from a "strong sell" to a "hold" rating, reflecting a change in analyst sentiment.
• The company's 50-day moving average price is $0.35, compared to a 200-day moving average of $0.33, suggesting a positive trend in short-term trading performance.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $0.41, but opened at $0.48. New World Development shares last traded at $0.41, with a volume of 1,637 shares traded.

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 research report on Monday, July 21st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, New World Development presently has a consensus rating of "Hold".

New World Development Stock Performance

The stock has a 50-day moving average price of $0.36 and a 200 day moving average price of $0.34.

New World Development Company Profile

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.