Sino Land (OTCMKTS:SNLAY) Shares Gap Down - Time to Sell?

Key Points

• Sharp gap down on light volume: Shares opened at $6.9870 after closing at $8.0320 and last traded at $6.9870 on only 277 shares, signaling a significant opening decline on very low volume.
• Major analyst upgrade: Goldman Sachs raised Sino Land from a "strong sell" to a "buy," and MarketBeat shows an average analyst rating of "Buy."
• Bearish technicals: The stock was reported down about 1.0% and is trading below both its 50-day ($7.76) and 200-day ($7.12) moving averages.

Sino Land Co. (OTCMKTS:SNLAY - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.0320, but opened at $6.9870. Sino Land shares last traded at $6.9870, with a volume of 277 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sino Land Trading Down 1.0%

The company has a 50-day moving average price of $7.76 and a 200-day moving average price of $7.12.

Sino Land Company Profile

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.

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