Henderson Land Development (OTCMKTS:HLDCY) Shares Gap Up – Here’s Why

Henderson Land Development Co. (OTCMKTS:HLDCY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $4.02, but opened at $4.25. Henderson Land Development shares last traded at $4.26, with a volume of 5,804 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Henderson Land Development from a “sell” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy”.

Henderson Land Development Stock Up 6.5%

The firm’s 50 day simple moving average is $3.86 and its 200-day simple moving average is $3.66.

Henderson Land Development Company Profile

Henderson Land Development (OTCMKTS: HLDCY) is a Hong Kong-based property developer and investment company with a long track record in the real estate sector. Founded in 1976 by Lee Shau-kee, the company’s core activities center on the development, sale and leasing of residential, commercial and retail properties. Its business model combines land acquisition and development with the ongoing management of investment properties to generate recurring rental income alongside project sales.

The company undertakes a range of property-related services, including property development, property investment, construction coordination and property management.