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

Key Points

• New World Development's shares opened at $0.44, increasing from a previous close of $0.42, with the stock last traded at $0.46.
• Goldman Sachs upgraded the company from a "strong sell" to a "hold" rating, contributing to a consensus rating of "Hold" among analysts.
• The company has a quick ratio and current ratio of 4.89 and a debt-to-equity ratio of 0.70, indicating strong liquidity and manageable leverage.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) shares 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 $0.46, with a volume of 1,553 shares changing 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 research note on Monday, July 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, New World Development currently has a consensus rating of "Hold".

New World Development Stock Performance

The company has a quick ratio of 4.89, a current ratio of 4.89 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average price of $0.45 and a 200-day moving average price of $0.37.

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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