China Overseas Land & Investment (OTCMKTS:CAOVY) Shares Gap Down – Here’s What Happened

China Overseas Land & Investment Limited (OTCMKTS:CAOVY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.67, but opened at $8.34. China Overseas Land & Investment shares last traded at $8.34, with a volume of 1,069 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded China Overseas Land & Investment to a “hold” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

China Overseas Land & Investment Price Performance

The business has a 50 day simple moving average of $9.33 and a 200 day simple moving average of $8.76.

About China Overseas Land & Investment

China Overseas Land & Investment (OTCMKTS: CAOVY) is a Hong Kong–based real estate developer and property investor with origins dating back to 1979. The company is a core subsidiary of China State Construction Engineering Corporation (CSCEC), one of the world’s largest construction and engineering conglomerates. Since its initial public offering on the Hong Kong Stock Exchange in the early 1990s, China Overseas Land & Investment has expanded its footprint to become one of the leading real estate groups in Greater China.

The company’s primary activities encompass residential and commercial property development, property investment, hotel operations and property management services.