City Developments (OTCMKTS:CDEVY) Shares Gap Up – Should You Buy?

City Developments Ltd. (OTCMKTS:CDEVY) shares gapped up before the market opened on Monday . The stock had previously closed at $6.52, but opened at $6.96. City Developments shares last traded at $6.96, with a volume of 190 shares changing hands.

Analyst Upgrades and Downgrades

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

City Developments Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s fifty day moving average price is $6.47 and its 200 day moving average price is $6.57.

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.