Codere Online Luxembourg (NASDAQ:CDRO) Stock Rated “Strong-Buy” in New Coverage at Noble Financial

Analysts at Noble Financial started coverage on shares of Codere Online Luxembourg (NASDAQ:CDRO) in a research note issued to investors on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Several other analysts have also recently issued reports on CDRO. Weiss Ratings raised shares of Codere Online Luxembourg from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Wall Street Zen upgraded shares of Codere Online Luxembourg to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Codere Online Luxembourg Stock Down 2.2%

CDRO traded down $0.19 on Friday, hitting $8.35. The company had a trading volume of 24,548 shares, compared to its average volume of 26,434. The company’s fifty day moving average price is $9.22 and its 200 day moving average price is $8.95. Codere Online Luxembourg has a 1 year low of $5.18 and a 1 year high of $10.26.

Institutional Investors Weigh In On Codere Online Luxembourg

An institutional investor recently raised its position in Codere Online Luxembourg stock. Citadel Advisors LLC boosted its position in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 256.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,355 shares of the company’s stock after acquiring an additional 27,599 shares during the quarter. Citadel Advisors LLC owned 0.08% of Codere Online Luxembourg worth $367,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.30% of the company’s stock.

About Codere Online Luxembourg

Codere Online Luxembourg S.A. operates online sports betting and casino gaming under the Codere brand. Its offerings include online sportsbooks and casino games, available through websites and mobile platforms. The company was established in 2014 as the online gaming business of Codere Group, an international gaming operator. Codere Online serves customers in Spain and several Latin American markets, including Mexico, Colombia, Panama and Argentina, subject to local regulations and licensing.