Sino Land (OTCMKTS:SNLAY) Shares Gap Down - Here's Why

Key Points

• Shares gapped down before the market opened, slipping from a prior close of $8.08 to an open at $7.69 and last trading at $7.60 on a volume of 1,024 shares; the stock sits near its 50‑day SMA of $7.79 and above its 200‑day SMA of $7.18.
• Goldman Sachs upgraded Sino Land from a "strong sell" to a "buy" on February 18, and the stock currently carries a consensus rating of Buy.
• Sino Land is a Hong Kong–based property developer and core member of the privately held Sino Group, with its American Depositary Receipt trading on the OTC market under the ticker SNLAY.

Sino Land Co. (OTCMKTS:SNLAY - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $8.08, but opened at $7.69. Sino Land shares last traded at $7.60, with a volume of 1,024 shares.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Sino Land from a "strong sell" rating to a "buy" rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Sino Land Price Performance

The company's 50-day simple moving average is $7.79 and its 200-day simple moving average is $7.18.

About Sino Land

Sino Land Company Limited is a Hong Kong–based property developer and a core member of the privately held Sino Group, which was founded in 1971. The company is publicly listed on the Hong Kong Stock Exchange, and its American Depositary Receipt trades on the OTC market under the symbol SNLAY. Over several decades, Sino Land has established itself as one of the city's leading real estate firms, leveraging the resources and development experience of its parent group.

The company's primary activities encompass property development, investment and asset management across a diverse portfolio of residential, office, retail and industrial projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.