City Developments (OTCMKTS:CDEVY) Shares Gap Up – What’s Next?

City Developments Ltd. (OTCMKTS:CDEVY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.58, but opened at $6.0950. City Developments shares last traded at $6.2925, with a volume of 522 shares changing hands.

Wall Street Analysts Forecast Growth

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

City Developments Stock Up 9.2%

The company’s fifty day simple moving average is $6.39 and its two-hundred day simple moving average is $6.71. The company has a current ratio of 0.77, a quick 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.