Naspers (OTCMKTS:NPSNY) Shares Gap Up – Here’s Why

Shares of Naspers Ltd. (OTCMKTS:NPSNY) gapped up prior to trading on Wednesday . The stock had previously closed at $9.99, but opened at $10.77. Naspers shares last traded at $10.78, with a volume of 6,404 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on NPSNY. The Goldman Sachs Group assumed coverage on shares of Naspers in a research report on Thursday, June 4th. They set a “neutral” rating on the stock. Zacks Research raised Naspers from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Naspers Price Performance

The company has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $11.35.

About Naspers

Naspers is a South African multinational holding company headquartered in Cape Town with principal interests in internet, technology and media businesses. Founded in 1915 as a publisher, the company evolved from traditional newspaper and magazine publishing into a diversified media group with pay-television and publishing operations in South Africa and other markets. Over time Naspers shifted strategy toward technology investments and online platforms, building a global portfolio focused on marketplaces, payments, classifieds and food delivery services.

A defining moment in the company’s modern history was its early investment in China’s Tencent, which helped reshape Naspers into a significant global investor in internet companies.