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

City Developments Ltd. (OTCMKTS:CDEVY) gapped up before the market opened on Friday . The stock had previously closed at $6.4150, but opened at $6.68. City Developments shares last traded at $6.68, with a volume of 2,760 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of City Developments from a “strong sell” rating to a “buy” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, City Developments currently has an average rating of “Buy”.

City Developments Stock Performance

The firm has a 50-day moving average price of $6.07 and a 200-day moving average price of $6.47. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.77 and a current ratio of 0.77.

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.