City Developments Ltd. (OTCMKTS:CDEVY) Short Interest Up 192.6% in December

City Developments Ltd. (OTCMKTS:CDEVY) was the target of 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 currently 1.4 days. Currently, 0.0% of the shares of the stock are short sold. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 5,182 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

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

City Developments Stock Performance

OTCMKTS CDEVY opened at $6.75 on Tuesday. City Developments has a 1 year low of $3.24 and a 1 year high of $7.09. The stock’s 50-day moving average price is $5.86 and its two-hundred day moving average price is $5.34.

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.