Hang Lung Properties (OTCMKTS:HLPPY) Shares Up 7.3% – Still a Buy?

Shares of Hang Lung Properties Ltd. (OTCMKTS:HLPPY) rose 7.3% on Thursday. The stock traded as high as $4.24 and last traded at $4.24. 380 shares were traded during trading, a decline of 94% from the average session volume of 5,861 shares. The stock had previously closed at $3.95.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Hang Lung Properties to a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Hang Lung Properties Trading Up 4.2%

The company’s 50 day moving average price is $4.19 and its 200 day moving average price is $5.08.

Hang Lung Properties Company Profile

Hang Lung Properties Limited is a Hong Kong-based property developer, owner and manager. The company develops and operates a diversified portfolio of premium commercial and residential properties, including shopping malls, office buildings, hotels and luxury residential projects.

Its commercial properties serve retailers, corporate tenants, residents and visitors, while its residential developments are positioned primarily in the higher-end segment. Hang Lung Properties also provides property management and related services associated with its portfolio.

Founded in 1960, the company has operations in Hong Kong and selected major cities in mainland China, including Shanghai, Shenyang, Jinan, Wuxi, Kunming and Wuhan.