Hongkong Land (OTCMKTS:HNGKY) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $40.26 and traded as low as $38.04. Hongkong Land shares last traded at $38.04, with a volume of 34,646 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Hongkong Land to a “buy” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Hongkong Land Stock Down 0.1%

The company’s 50 day moving average price is $40.17 and its 200 day moving average price is $38.83. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 0.19.

About Hongkong Land

Hongkong Land Holdings Limited (OTCMKTS: HNGKY) is a leading property investment, management and development group focused on premier real estate in Asia’s major financial centres. Established in 1889, the company specialises in owning, managing and developing a diversified portfolio that spans premium office towers, retail complexes, select residential schemes and hospitality assets.

The group’s flagship properties include landmark office developments such as Jardine House and Exchange Square in Central, Hong Kong, alongside The Landmark retail precinct.