Short Interest in Henderson Land Development Co. (OTCMKTS:HLDCY) Grows By 588.2%

Key Points

• Short interest in Henderson Land Development Co. surged by 588.2% in August, reaching a total of 11,700 shares from 1,700 shares.
• The company announced a dividend payment of $0.0513 to be paid on September 24th, representing a yield of 574.0%.
• Hsbc Global Research upgraded the stock rating from "hold" to "strong-buy", with a consensus rating of "Strong Buy" from analysts.

Henderson Land Development Co. (OTCMKTS:HLDCY - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 11,700 shares, a growth of 588.2% from the August 15th total of 1,700 shares. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is presently 0.3 days.

Henderson Land Development Stock Performance

Shares of HLDCY traded up $0.04 during mid-day trading on Thursday, reaching $3.54. The company's stock had a trading volume of 7,967 shares, compared to its average volume of 109,003. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.18. Henderson Land Development has a 52 week low of $2.47 and a 52 week high of $3.81. The company's fifty day moving average price is $3.43 and its two-hundred day moving average price is $3.11.

Henderson Land Development Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, September 5th will be paid a $0.0513 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a yield of 574.0%.

Analysts Set New Price Targets

Separately, Hsbc Global Res raised Henderson Land Development from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

About Henderson Land Development

Henderson Land Development Company Limited, an investment holding company, engages in the property development and investment activities in Hong Kong and Mainland China. The company operates through Property Development, Property Leasing, Department Stores and Supermarket-Cum-Stores Operations, Hotel Room Operation, Other Businesses, and Utility and Energy segments.

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