Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 52-Week High – Here’s What Happened

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reached a new 52-week high on Thursday . The stock traded as high as $31.51 and last traded at $30.64, with a volume of 102172 shares trading hands. The stock had previously closed at $24.56.

Analyst Ratings Changes

Several brokerages have issued reports on CDNL. DA Davidson raised shares of Cardinal Infrastructure Group to a “strong-buy” rating in a research report on Wednesday, January 21st. Stifel Nicolaus upped their price target on shares of Cardinal Infrastructure Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus price target of $30.50.

Cardinal Infrastructure Group Price Performance

Institutional Trading of Cardinal Infrastructure Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC purchased a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth about $152,000. XTX Topco Ltd purchased a new position in Cardinal Infrastructure Group during the 4th quarter worth approximately $242,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at approximately $242,000. Oxford Asset Management LLP purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $586,000.

About Cardinal Infrastructure Group

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.