Cadeler A/S (NYSE:CDLR) Shares Gap Up – Still a Buy?

Cadeler A/S Sponsored ADR (NYSE:CDLR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $17.43, but opened at $19.44. Cadeler A/S shares last traded at $18.4440, with a volume of 958,635 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDLR. Wall Street Zen lowered Cadeler A/S from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cadeler A/S in a research note on Wednesday, October 8th. Finally, Pareto Securities raised shares of Cadeler A/S to a “hold” rating in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Cadeler A/S Price Performance

The stock’s fifty day moving average is $18.95 and its 200-day moving average is $20.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.07 and a quick ratio of 1.06. The stock has a market capitalization of $1.52 billion, a P/E ratio of 5.07 and a beta of 0.27.

Hedge Funds Weigh In On Cadeler A/S

A number of institutional investors have recently modified their holdings of CDLR. Raymond James Financial Inc. acquired a new position in Cadeler A/S in the 2nd quarter valued at $34,000. Rhumbline Advisers increased its stake in shares of Cadeler A/S by 45.2% in the first quarter. Rhumbline Advisers now owns 2,167 shares of the company’s stock worth $43,000 after purchasing an additional 675 shares during the period. Bank of America Corp DE lifted its position in shares of Cadeler A/S by 10,418.8% during the 2nd quarter. Bank of America Corp DE now owns 3,366 shares of the company’s stock worth $67,000 after purchasing an additional 3,334 shares during the last quarter. Steinberganna Wealth Management bought a new stake in Cadeler A/S during the 3rd quarter valued at approximately $214,000. Finally, Cetera Investment Advisers acquired a new stake in Cadeler A/S in the 2nd quarter valued at approximately $375,000. Institutional investors own 53.03% of the company’s stock.

About Cadeler A/S

Cadeler A/S operates as an offshore wind farm transportation and installation contractor in Denmark. It also provides wind farm construction, maintenance, decommissioning, and other tasks within the offshore industry, as well as marine and engineering services. The company owns and operates four offshore jack-up windfarm installation vessels.