Longfor Group (OTCMKTS:LGFRY) Shares Down 2.6% – Here’s Why

Longfor Group Holdings Limited (OTCMKTS:LGFRY)’s stock price was down 2.6% during mid-day trading on Thursday . The stock traded as low as C$12.73 and last traded at C$12.79. Approximately 582,716 shares were traded during mid-day trading, an increase of 695% from the average daily volume of 73,263 shares. The stock had previously closed at C$13.14.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded shares of Longfor Group to a “neutral” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Longfor Group Stock Performance

The business has a 50 day simple moving average of C$12.06 and a 200-day simple moving average of C$13.00.

Longfor Group Company Profile

Longfor Group Holdings Limited (OTCMKTS: LGFRY) is a leading integrated real estate developer based in Beijing, China. Established in 1995, the company focuses on property development, property investment and property management. Its core business activities include the design, construction and sale of residential communities, as well as the development of commercial retail properties, office buildings and serviced apartments.

In addition to traditional real estate development, Longfor Group has diversified into the operation and management of urban complexes that combine shopping malls, hotels, offices and cultural facilities.