Short Interest in City Developments Ltd. (OTCMKTS:CDEVY) Drops By 53.8%

City Developments Ltd. (OTCMKTS:CDEVY) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 860 shares, a decline of 53.8% from the June 30th total of 1,862 shares. Based on an average daily volume of 6,929 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

City Developments Price Performance

Shares of OTCMKTS:CDEVY opened at $5.86 on Tuesday. The company has a 50-day simple moving average of $6.23 and a 200-day simple moving average of $6.69. City Developments has a one year low of $4.39 and a one year high of $8.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.00.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised City Developments from a “strong sell” rating to a “buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, City Developments currently has a consensus rating of “Buy”.

City Developments Company Profile

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.