Short Interest in City Developments Ltd. (OTCMKTS:CDEVY) Grows By 447.5%

City Developments Ltd. (OTCMKTS:CDEVY) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,084 shares, a growth of 447.5% from the January 15th total of 198 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 36,017 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 36,017 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

City Developments Stock Performance

Shares of CDEVY opened at $7.76 on Thursday. City Developments has a 12-month low of $3.24 and a 12-month high of $7.87. The company has a 50-day moving average of $6.61 and a two-hundred day moving average of $5.78.

Analysts Set New Price Targets

Separately, Dbs Bank raised 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, City Developments presently 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.