City Developments Ltd. (OTCMKTS:CDEVY) Sees Large Drop in Short Interest

City Developments Ltd. (OTCMKTS:CDEVY) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 198 shares, a decline of 97.3% from the December 31st total of 7,459 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 24,649 shares, the short-interest ratio is presently 0.0 days. Based on an average daily trading volume, of 24,649 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

City Developments Trading Up 3.0%

Shares of CDEVY stock traded up $0.22 on Tuesday, hitting $7.50. The company’s stock had a trading volume of 359 shares, compared to its average volume of 14,721. City Developments has a fifty-two week low of $3.24 and a fifty-two week high of $7.50. The stock’s 50 day moving average is $6.19 and its 200-day moving average is $5.57.

Wall Street Analyst Weigh In

Separately, Dbs Bank upgraded shares of City Developments to a “moderate buy” rating in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

City Developments Company Profile

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.