Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Down 8.1% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares fell 8.1% on Tuesday . The company traded as low as $48.10 and last traded at $47.9250. 193,517 shares traded hands during trading, a decline of 43% from the average session volume of 342,011 shares. The stock had previously closed at $52.14.

Analyst Ratings Changes

A number of research firms recently weighed in on CDNL. Weiss Ratings began coverage on shares of Cardinal Infrastructure Group in a report on Monday, March 9th. They set a “sell (e)” rating for the company. Zacks Research raised shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 price target (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. Finally, DA Davidson raised their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cardinal Infrastructure Group presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Cardinal Infrastructure Group Trading Down 9.6%

The business’s 50 day simple moving average is $35.48.

Insider Buying and Selling

In related news, Director Ivy Zelman acquired 6,921 shares of Cardinal Infrastructure Group stock in a transaction on Thursday, March 26th. The shares were purchased at an average cost of $36.33 per share, for a total transaction of $251,439.93. Following the purchase, the director directly owned 15,326 shares of the company’s stock, valued at $556,793.58. The trade was a 82.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $152,000. Zuckerman Investment Group LLC bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $242,000. XTX Topco Ltd bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $242,000. Oxford Asset Management LLP bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $355,000. Finally, HRT Financial LP bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $586,000.

About Cardinal Infrastructure Group

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment 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. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.