Codere Online Luxembourg (NASDAQ:CDRO) Trading Up 3.4% – Time to Buy?

Codere Online Luxembourg, S.A. (NASDAQ:CDRO)’s share price shot up 3.4% on Monday . The company traded as high as $9.84 and last traded at $9.31. 77,954 shares traded hands during trading, an increase of 244% from the average session volume of 22,671 shares. The stock had previously closed at $9.00.

Wall Street Analyst Weigh In

A number of research firms recently commented on CDRO. Weiss Ratings cut shares of Codere Online Luxembourg from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Wall Street Zen lowered Codere Online Luxembourg from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Codere Online Luxembourg Price Performance

The stock has a fifty day moving average price of $9.14 and a 200 day moving average price of $9.07.

Hedge Funds Weigh In On Codere Online Luxembourg

A hedge fund recently raised its stake in Codere Online Luxembourg stock. Citadel Advisors LLC boosted its position in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 256.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,355 shares of the company’s stock after purchasing an additional 27,599 shares during the quarter. Citadel Advisors LLC owned about 0.08% of Codere Online Luxembourg worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 10.30% of the stock is currently owned by hedge funds and other institutional investors.

Codere Online Luxembourg Company Profile

Codere Online Luxembourg SA is an online gaming company that operates digital sports betting and casino platforms under the Codere brand. Its products are available through websites and mobile applications, offering customers sports wagering, casino games and related online gaming services.

The company serves regulated markets in Europe and Latin America, including Spain, Mexico, Colombia and Argentina. Its offerings and market presence vary by jurisdiction and are subject to local licensing and regulatory requirements.

Codere Online was established as the online gaming business of the broader Codere Group and became a publicly traded company on Nasdaq in 2021 through a business combination with a special purpose acquisition company.