City Developments (OTCMKTS:CDEVY) Shares Gap Up – Still a Buy?

City Developments Ltd. (OTCMKTS:CDEVY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.58, but opened at $6.0950. City Developments shares last traded at $6.2925, with a volume of 522 shares traded.

Wall Street Analyst Weigh In

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

City Developments Stock Up 1.0%

The company’s 50 day moving average price is $6.37 and its 200-day moving average price is $6.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.77 and a current ratio of 0.77.

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.