Short Interest in New World Development Co. (OTCMKTS:NDVLY) Rises By 31.1%

Key Points

• Short interest in New World Development Co. increased by 31.1% in August, reaching a total of 45,500 shares from the previous 34,700 shares.
• The Goldman Sachs Group upgraded the stock from a "strong sell" to a "hold" rating, reflecting a more optimistic outlook.
• New World Development's stock performance shows a 12-month range with a low of $0.21 and a high of $0.69, currently trading at $0.50.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 45,500 shares, an increase of 31.1% from the August 15th total of 34,700 shares. Based on an average daily trading volume, of 31,100 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.0% of the company's shares are short sold. Approximately 0.0% of the company's shares are short sold. Based on an average daily trading volume, of 31,100 shares, the days-to-cover ratio is presently 1.5 days.

New World Development Price Performance

NDVLY stock traded up $0.03 during trading hours on Wednesday, reaching $0.50. 981 shares of the stock were exchanged, compared to its average volume of 12,511. The firm's 50-day moving average is $0.40 and its 200-day moving average is $0.35. New World Development has a 12 month low of $0.21 and a 12 month high of $0.69.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average 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.

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