Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Up 8.1% – Should You Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares shot up 8.1% during trading on Monday . The company traded as high as $31.83 and last traded at $31.83. 32,723 shares were traded during mid-day trading, a decline of 87% from the average session volume of 250,606 shares. The stock had previously closed at $29.45.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDNL shares. Stifel Nicolaus upped their price target on Cardinal Infrastructure Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Zacks Research upgraded shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. DA Davidson upped their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings started coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Cardinal Infrastructure Group Stock Up 5.0%

The business’s 50 day simple moving average is $28.42.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several large investors have recently modified their holdings of CDNL. Taylor Frigon Capital Management LLC bought a new position in Cardinal Infrastructure Group in the 4th quarter worth about $1,209,000. Kornitzer Capital Management Inc. KS bought a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $850,000. TimesSquare Capital Management LLC purchased a new position in Cardinal Infrastructure Group in the fourth quarter worth about $14,612,000. Goldman Sachs Group Inc. bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth approximately $3,893,000. Finally, CenterBook Partners LP bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth approximately $1,994,000.

About Cardinal Infrastructure Group

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.