City Developments Ltd. (OTCMKTS:CDEVY) Short Interest Update

City Developments Ltd. (OTCMKTS:CDEVY) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,200 shares, a growth of 581.8% from the February 26th total of 616 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 8,803 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 8,803 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are short sold.

City Developments Stock Down 1.4%

CDEVY stock opened at $6.29 on Wednesday. The company has a fifty day moving average price of $7.28 and a 200-day moving average price of $6.23. City Developments has a 52-week low of $3.24 and a 52-week high of $8.20.

Wall Street Analyst Weigh In

Separately, Dbs Bank upgraded City Developments to a “moderate buy” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.