City Developments (OTCMKTS:CDEVY) Shares Gap Up – Still a Buy?

Shares of City Developments Ltd. (OTCMKTS:CDEVY) gapped up before the market opened on Thursday . The stock had previously closed at $6.30, but opened at $6.5260. City Developments shares last traded at $6.5260, with a volume of 750 shares traded.

Analyst Upgrades and Downgrades

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

City Developments Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $6.14 and a 200 day moving average of $6.34.

City Developments Company Profile

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.