Nine Dragons Paper (OTCMKTS:NDGPY) Shares Gap Up – Here’s Why

Shares of Nine Dragons Paper (OTCMKTS:NDGPY) gapped up prior to trading on Wednesday . The stock had previously closed at $12.30, but opened at $13.00. Nine Dragons Paper shares last traded at $13.00, with a volume of 425 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup raised Nine Dragons Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Nine Dragons Paper Price Performance

The company has a quick ratio of 0.72, a current ratio of 0.99 and a debt-to-equity ratio of 1.08. The firm has a fifty day simple moving average of $9.90 and a 200 day simple moving average of $8.54.

About Nine Dragons Paper

Nine Dragons Paper (Holdings) Limited, together with its subsidiaries, engages in the production and sale of packaging paper, recycled printing and writing paper, and specialty paper and pulp products in the People's Republic of China. The company offers linerboard products, including kraft, test, white top, and coated linerboards; corrugating medium containerboard products; corrugated cardboard products; carton box products; corrugated sheet products; and coated duplex boards.