Nam Tai Property Inc. (NYSE:NTP) Downgraded by ValuEngine to “Hold”

Nam Tai Property Inc. (NYSE:NTP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, August 29th.

Separately, BidaskClub upgraded Nam Tai Property from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th.

Nam Tai Property (NTP) traded down 1.91% during midday trading on Tuesday, hitting $10.25. The company’s stock had a trading volume of 108,711 shares. The company’s 50-day moving average is $10.24 and its 200 day moving average is $8.51. Nam Tai Property has a one year low of $6.79 and a one year high of $11.23. The company’s market cap is $374.89 million.

Nam Tai Property (NYSE:NTP) last posted its earnings results on Monday, July 31st. The electronics maker reported $0.06 earnings per share for the quarter. The business had revenue of $0.54 million during the quarter. Nam Tai Property had a negative return on equity of 1.09% and a negative net margin of 112.71%.

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A number of hedge funds have recently modified their holdings of the stock. Kahn Brothers Group Inc. DE increased its position in Nam Tai Property by 3.3% in the 2nd quarter. Kahn Brothers Group Inc. DE now owns 1,979,060 shares of the electronics maker’s stock valued at $15,832,000 after acquiring an additional 63,800 shares during the period. Vanguard Group Inc. increased its position in Nam Tai Property by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 114,213 shares of the electronics maker’s stock valued at $914,000 after acquiring an additional 16,747 shares during the period. Finally, State Street Corp increased its position in Nam Tai Property by 0.6% in the 2nd quarter. State Street Corp now owns 23,578 shares of the electronics maker’s stock valued at $188,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 28.01% of the company’s stock.

About Nam Tai Property

Nam Tai Property Inc is a holding company. The Company is a property development and management company. The Company focuses on redevelopment of on two parcels of land in Gushu and Guangming, Shenzhen, China, into high-end commercial complexes. Its property development project in Guangming, Shenzhen, is named as Namtai Inno Park, and its property development project in Gushu, Shenzhen, is named as Namtai Inno City.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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