City Developments (OTCMKTS:CDEVY) Shares Gap Up – Here’s Why

Shares of City Developments Ltd. (OTCMKTS:CDEVY) gapped up prior to trading on Friday . The stock had previously closed at $6.20, but opened at $6.44. City Developments shares last traded at $6.20, with a volume of 896 shares changing hands.

Wall Street Analyst Weigh In

Separately, Dbs Bank raised City Developments to a “moderate buy” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

City Developments Stock Down 0.2%

The company’s fifty day moving average price is $5.65 and its 200 day moving average price is $5.13.

About City Developments

City Developments Limited (OTCMKTS: CDEVY) is a Singapore-based real estate developer founded in 1963. As one of the country’s largest and most established property companies, it operates as part of the Hong Leong Group of Companies. Over the past five decades, City Developments has grown from its local beginnings into an international developer with a diversified portfolio spanning residential, commercial and mixed-use projects.

The company’s core activities include property development, investment and management.