New World Development Co. (OTCMKTS:NDVLY) Sees Large Decrease in Short Interest

Key Points

• Short interest in New World Development Co. declined by 35.6% in July, totaling 39,400 shares compared to 61,200 shares previously.
• The company's stock price increased by 7.1%, reaching $0.4284 during trading, with a twelve-month range from $0.21 to $0.69.
• Goldman Sachs upgraded New World Development from a "strong sell" to a "hold" rating, along with a current consensus rating of "Hold" from other analysts.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 39,400 shares, adropof35.6% from the July 15th total of 61,200 shares. Based on an average trading volume of 8,700 shares, the days-to-cover ratio is presently 4.5 days. Currently,0.0% of the company's shares are short sold. Currently,0.0% of the company's shares are short sold. Based on an average trading volume of 8,700 shares, the days-to-cover ratio is presently 4.5 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised New World Development from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

New World Development Trading Down 7.4%

Shares of OTCMKTS NDVLY traded down $0.0338 during midday trading on Friday, hitting $0.4215. 4,796 shares of the stock traded hands, compared to its average volume of 4,899. New World Development has a one year low of $0.21 and a one year high of $0.69. The business has a 50 day moving average price of $0.36 and a two-hundred day moving average price of $0.34.

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.