Nine Dragons Paper (OTCMKTS:NDGPY) Stock Price Down 6.5% - Here's Why

Key Points

• Nine Dragons Paper (OTCMKTS:NDGPY) saw its stock price decrease by 6.5%, trading at $10.50 after a 81% drop in trading volume compared to its average.
• Despite the recent decline, analysts at Citigroup upgraded Nine Dragons Paper from a "hold" to a "strong-buy" rating, indicating a potential for future growth.
• The company's current ratio is 0.99, suggesting potential liquidity issues, while its debt-to-equity ratio stands at 1.08, indicating a moderate level of debt.

Nine Dragons Paper (OTCMKTS:NDGPY - Get Free Report) shares were down 6.5% during mid-day trading on Wednesday . The stock traded as low as $10.50 and last traded at $10.50. Approximately 186 shares traded hands during trading, a decline of 81% from the average daily volume of 960 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

Separately, Citigroup upgraded Nine Dragons Paper from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th.

Nine Dragons Paper Stock Performance

The firm has a 50-day moving average of $8.64 and a 200-day moving average of $8.11. The company has a current ratio of 0.99, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

About Nine Dragons Paper

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.