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

City Developments Ltd. (OTCMKTS:CDEVY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $6.52, but opened at $6.96. City Developments shares last traded at $6.96, with a volume of 190 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of City Developments to a “buy” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

City Developments Trading Up 6.7%

The firm’s fifty day moving average price is $6.47 and its 200 day moving average price is $6.57. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.00.

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.