City Developments (OTCMKTS:CDEVY) Shares Gap Up – Here’s What Happened

City Developments Ltd. (OTCMKTS:CDEVY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $5.90, but opened at $6.1775. City Developments shares last traded at $6.1775, with a volume of 244 shares.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of City Developments from a “strong sell” rating 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, City Developments has an average rating of “Buy”.

City Developments Stock Performance

The company has a fifty day simple moving average of $6.26 and a two-hundred day simple moving average of $6.70. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.00.

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.