Sino Land (OTCMKTS:SNLAY) Stock Price Down 11.8% - Here's Why

Key Points

• Shares fell 11.8% to $7.5670 on Thursday, with intraday volume of 888 shares—about a 70% drop from the average session volume of 2,987.
• Goldman Sachs upgraded Sino Land from "strong sell" to "buy" on Feb. 18, and MarketBeat shows a consensus rating of "Buy."
• Sino Land's 50-day and 200-day moving averages are $7.79 and $7.27, respectively; the company is a leading Hong Kong property developer and its ADR trades OTC under the symbol SNLAY.

Shares of Sino Land Co. (OTCMKTS:SNLAY - Get Free Report) traded down 11.8% on Thursday . The stock traded as low as $7.5670 and last traded at $7.5670. 888 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,987 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded 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, According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

Sino Land Stock Performance

The business has a 50 day moving average of $7.79 and a two-hundred day moving average of $7.27.

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.