City Developments Ltd. (OTCMKTS:CDEVY) Sees Large Decline in Short Interest

City Developments Ltd. (OTCMKTS:CDEVY) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 188 shares, a drop of 76.3% from the August 15th total of 794 shares. Based on an average daily volume of 1,585 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

City Developments Trading Up 0.5%

Shares of CDEVY stock opened at $6.70 on Friday. The business’s fifty day moving average price is $6.13 and its 200 day moving average price is $6.43. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.00. City Developments has a 1-year low of $4.96 and a 1-year high of $8.20.

Analyst Ratings Changes

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

About City Developments

City Developments Limited (CDL) is a Singapore-based global real estate operating company engaged in property development, investment and management. Its portfolio includes residential developments, commercial offices, retail properties, integrated developments and industrial assets. The company also provides property-related services, including facilities management and asset management.

Founded in 1963, CDL has developed a substantial presence in Singapore and operates internationally through residential, commercial and hospitality businesses.