City Developments (OTCMKTS:CDEVY) Shares Gap Up – What’s Next?

City Developments Ltd. (OTCMKTS:CDEVY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.2044, but opened at $6.50. City Developments shares last traded at $6.50, with a volume of 500 shares changing hands.

Wall Street Analysts Forecast Growth

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

City Developments Stock Up 4.8%

The firm has a fifty day moving average of $6.06 and a 200-day moving average of $6.54. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.00.

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.