New World Development Co. (OTCMKTS:NDVLY) Short Interest Down 35.6% in July

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 large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 39,400 shares, adecreaseof35.6% from the July 15th total of 61,200 shares. Currently,0.0% of the company's stock are sold short. Based on an average daily trading volume, of 8,700 shares, the short-interest ratio is presently 4.5 days. Based on an average daily trading volume, of 8,700 shares, the short-interest ratio is presently 4.5 days. Currently,0.0% of the company's stock are sold short.

New World Development Stock Performance

Shares of NDVLY stock traded down $0.0338 on Friday, reaching $0.4215. The stock had a trading volume of 4,796 shares, compared to its average volume of 4,899. New World Development has a 1 year low of $0.21 and a 1 year high of $0.69. The company has a 50 day simple moving average of $0.36 and a 200 day simple moving average of $0.34.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

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.