Citigroup Upgrades Nine Dragons Paper (OTCMKTS:NDGPY) to "Strong-Buy"

Key Points

• Citigroup has upgraded Nine Dragons Paper from a "hold" rating to a "strong-buy" rating, signaling increased confidence in the stock's potential.
• The company's shares rose by 5.2% following the rating change, with current trading around $11.05.
• Nine Dragons Paper specializes in the production and sale of various paper products, including packaging paper and recycled paper products, primarily in China.

Citigroup upgraded shares of Nine Dragons Paper (OTCMKTS:NDGPY - Free Report) from a hold rating to a strong-buy rating in a report issued on Friday morning,Zacks.com reports.

Nine Dragons Paper Stock Performance

Shares of OTCMKTS:NDGPY traded up $0.18 during midday trading on Friday, hitting $11.23. 2,335 shares of the stock were exchanged, compared to its average volume of 452. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.99. The business's 50-day moving average price is $8.37 and its 200 day moving average price is $8.03. Nine Dragons Paper has a 12 month low of $6.60 and a 12 month high of $11.56.

Nine Dragons Paper Company Profile

Nine Dragons Paper (Holdings) Limited, together with its subsidiaries, engages in the production and sale of packaging paper, recycled printing and writing paper, and specialty paper and pulp products in the People's Republic of China. The company offers linerboard products, including kraft, test, white top, and coated linerboards; corrugating medium containerboard products; corrugated cardboard products; carton box products; corrugated sheet products; and coated duplex boards.