Sino Land (OTCMKTS:SNLAY) Stock Price Down 9.9% – Here’s Why

Sino Land Co. (OTCMKTS:SNLAY) dropped 9.9% during trading on Tuesday. The company traded as low as $6.20 and last traded at $6.20. 1,145 shares changed hands during trading, a decline of 78% from the average session volume of 5,113 shares. The stock had previously closed at $6.88.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Sino Land to a “hold” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Sino Land Price Performance

The business has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $7.28.

About Sino Land

Sino Land Company Limited is a Hong Kong-based property developer, investor and operator. Established in 1972, the company is part of Sino Group and focuses primarily on the development and management of residential, commercial, retail and mixed-use properties.

The company’s activities include property development, investment properties, property management and hospitality. Its portfolio includes residential communities, office buildings, shopping centers and integrated developments, as well as hotels and serviced residences operated through its hospitality businesses.

Sino Land’s operations are concentrated mainly in Hong Kong, where it has developed and manages properties across major urban districts.