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

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price shot 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 changed hands during mid-day trading, a decline of 87% from the average session volume of 250,606 shares. The stock had previously closed at $29.45.

Wall Street Analyst Weigh In

CDNL has been the topic of a number of research analyst reports. Zacks Research raised Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 6th. DA Davidson increased their target price on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Stifel Nicolaus raised their target price on shares of Cardinal Infrastructure Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Weiss Ratings started coverage on shares of Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cardinal Infrastructure Group has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Cardinal Infrastructure Group Stock Up 5.0%

The business has a fifty day moving average price of $28.22.

Institutional Investors Weigh In On Cardinal Infrastructure Group

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