Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 8.1% Higher – Here’s Why

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price traded up 8.1% during mid-day trading on Monday . The stock traded as high as $31.83 and last traded at $31.83. 32,723 shares were traded during trading, a decline of 87% from the average session volume of 250,606 shares. The stock had previously closed at $29.45.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDNL shares. DA Davidson lifted their target price on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings started coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating on the stock. Zacks Research raised Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. Finally, Stifel Nicolaus upped their target price on shares of Cardinal Infrastructure Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Cardinal Infrastructure Group Stock Up 5.0%

The firm’s 50 day moving average price is $28.22.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Large investors have recently bought and sold shares of the company. Barclays PLC bought a new position in shares of Cardinal Infrastructure Group during the fourth quarter worth $152,000. XTX Topco Ltd acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth $242,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth $242,000. Oxford Asset Management LLP bought a new position in Cardinal Infrastructure Group during the fourth quarter worth about $355,000. Finally, HRT Financial LP bought a new position in Cardinal Infrastructure Group during the fourth quarter worth about $586,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.