Short Interest in City Developments Ltd. (OTCMKTS:CDEVY) Grows By 192.6%

City Developments Ltd. (OTCMKTS:CDEVY) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 7,459 shares, a growth of 192.6% from the December 15th total of 2,549 shares. Based on an average daily volume of 5,182 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,182 shares, the days-to-cover ratio is presently 1.4 days.

Analysts Set New Price Targets

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, the stock presently has an average rating of “Buy”.

City Developments Stock Down 0.1%

Shares of OTCMKTS CDEVY traded down $0.01 during midday trading on Thursday, reaching $6.88. 16,482 shares of the company traded hands, compared to its average volume of 3,528. City Developments has a 12 month low of $3.24 and a 12 month high of $7.20. The stock’s 50-day simple moving average is $5.91 and its 200-day simple moving average is $5.37.

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.