City Developments Ltd. (OTCMKTS:CDEVY) Short Interest Down 54.4% in May

City Developments Ltd. (OTCMKTS:CDEVY) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 1,591 shares, a decline of 54.4% from the May 14th total of 3,487 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 5,738 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

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

City Developments Price Performance

City Developments stock opened at $6.57 on Friday. City Developments has a fifty-two week low of $3.68 and a fifty-two week high of $8.20. 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 stock has a 50-day simple moving average of $6.46 and a 200-day simple moving average of $6.63.

City Developments Company Profile

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.