Henderson Land Development (OTCMKTS:HLDCY) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Henderson Land Development Co. (OTCMKTS:HLDCY)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.98 and traded as high as $4.33. Henderson Land Development shares last traded at $4.29, with a volume of 14,007 shares.

Wall Street Analysts Forecast Growth

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, February 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Henderson Land Development Stock Down 1.8%

The company has a fifty day moving average price of $3.98 and a 200-day moving average price of $3.71.

About Henderson Land Development

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.