Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 52-Week Low – Here’s Why

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price hit a new 52-week low on Thursday. The stock traded as low as $13.89 and last traded at $14.2110, with a volume of 41,599 shares changing hands. The stock had previously closed at $14.64.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Truist Financial reduced their price target on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a report on Monday. Zacks Research downgraded Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Stifel Nicolaus dropped their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Oppenheimer cut their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The firm’s fifty day moving average is $30.43 and its two-hundred day moving average is $50.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. On average, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Richard Melvin Jr. Lee acquired 34,000 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $36.82 per share, with a total value of $1,251,880.00. Following the purchase, the director owned 68,254 shares in the company, valued at approximately $2,513,112.28. This trade represents a 99.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin Wood purchased 25,700 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $39.48 per share, with a total value of $1,014,636.00. Following the purchase, the chief operating officer owned 45,700 shares in the company, valued at $1,804,236. This represents a 128.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 214,597 shares of company stock worth $8,285,516 over the last quarter. 61.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group in the first quarter worth about $28,000. Strs Ohio bought a new position in shares of Cardinal Infrastructure Group during the 1st quarter worth approximately $87,000. GatePass Capital LLC acquired a new stake in Cardinal Infrastructure Group in the 1st quarter valued at $274,000. Bank of Nova Scotia acquired a new stake in Cardinal Infrastructure Group in the 1st quarter valued at $366,000. Finally, Kings Path Partners LLC bought a new stake in Cardinal Infrastructure Group in the third quarter valued at $319,000.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.