Codere Online Luxembourg (NASDAQ:CDRO) Shares Up 2.3% – What’s Next?

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) shares were up 2.3% during mid-day trading on Wednesday. The stock traded as high as $9.62 and last traded at $9.62. 26,144 shares were traded during trading, a decline of 19% from the average daily volume of 32,423 shares. The stock had previously closed at $9.40.

Analysts Set New Price Targets

CDRO has been the subject of a number of research reports. Wall Street Zen downgraded Codere Online Luxembourg from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings upgraded shares of Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Three analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Codere Online Luxembourg Stock Performance

The company has a 50 day simple moving average of $9.25 and a two-hundred day simple moving average of $9.24.

Hedge Funds Weigh In On Codere Online Luxembourg

An institutional investor recently raised its stake in Codere Online Luxembourg stock. Citadel Advisors LLC boosted its stake in shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 256.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,355 shares of the company’s stock after buying an additional 27,599 shares during the period. Citadel Advisors LLC owned approximately 0.08% of Codere Online Luxembourg worth $367,000 at the end of the most recent quarter. 10.30% of the stock is currently owned by institutional investors and hedge funds.

About Codere Online Luxembourg

Codere Online Luxembourg SA is an online gaming company that operates digital sports betting and casino platforms under the Codere brand. Its offerings include pre-match and live sports wagering, online casino games, and related gaming products delivered through websites and mobile applications.

The company serves customers in several regulated Spanish-speaking markets, including Spain, Mexico, Colombia and Argentina. Its operations are tailored to local regulations and market conditions, with sports betting focused on popular sporting events and casino platforms offering a range of digital games.

Codere Online traces its origins to the online gaming business of Codere, a multinational gaming group, and became a publicly traded company in 2021 through a business combination with a special purpose acquisition company.