City Developments Ltd. (OTCMKTS:CDEVY) Short Interest Update

City Developments Ltd. (OTCMKTS:CDEVY) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 1,591 shares, a drop of 54.4% from the May 14th total of 3,487 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,738 shares, the short-interest ratio is presently 0.3 days.

City Developments Price Performance

OTCMKTS:CDEVY opened at $6.57 on Monday. The business’s 50-day moving average price is $6.46 and its 200 day moving average price is $6.63. City Developments has a 52-week low of $3.68 and a 52-week high of $8.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.00.

Wall Street Analyst Weigh In

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

About City Developments

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.