Sun Hung Kai Properties (OTCMKTS:SUHJY) Shares Down 4.2% - Here's What Happened

Key Points

• Sun Hung Kai Properties shares fell 4.2% to $11.71 with only 208 shares traded, significantly below its average daily volume of 90,086 shares.
• Analysts at Zacks and UBS downgraded the company from a "strong-buy" rating to a "hold" rating, indicating a more cautious outlook on the stock.
• The company's 50-day and 200-day simple moving averages were noted at $12.07 and $11.15, respectively, suggesting recent trading has been underperforming.

Sun Hung Kai Properties Ltd. (OTCMKTS:SUHJY - Get Free Report) was down 4.2% during trading on Monday . The company traded as low as $11.71 and last traded at $11.71. Approximately 208 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 90,086 shares. The stock had previously closed at $12.22.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SUHJY. Zacks Research lowered shares of Sun Hung Kai Properties from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. UBS Group lowered Sun Hung Kai Properties from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Sun Hung Kai Properties currently has an average rating of "Hold".

Sun Hung Kai Properties Trading Up 1.4%

The business's 50-day simple moving average is $12.07 and its two-hundred day simple moving average is $11.15.

About Sun Hung Kai Properties

Sun Hung Kai Properties Limited develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally. It develops, sells, and leases properties, including residential estates, offices, shopping malls, industrial offices, and hotels and serviced suites. The company also provides property management services; construction-related services, including landscaping, electrical and mechanical installation, production and installation of wooden doors, and construction plant and machinery leasing; and insurance products to individuals and businesses comprising householder's comprehensive, fire, employees' compensation, travel, personal accident, motor vehicles, contractors' all risks, third party liability, and property all risks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.