Codere Online Luxembourg (NASDAQ:CDRO) Shares Up 2.1% – Here’s What Happened

Codere Online Luxembourg, S.A. (NASDAQ:CDRO)’s share price rose 2.1% during mid-day trading on Wednesday . The company traded as high as $7.34 and last traded at $7.19. Approximately 35,067 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 48,648 shares. The stock had previously closed at $7.04.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 price target on shares of Codere Online Luxembourg in a research note on Monday, December 30th.

Codere Online Luxembourg Price Performance

The stock’s 50 day moving average is $7.07 and its 200-day moving average is $7.47.

Hedge Funds Weigh In On Codere Online Luxembourg

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Codere Online Luxembourg by 25.0% in the 4th quarter. Geode Capital Management LLC now owns 13,600 shares of the company’s stock worth $88,000 after buying an additional 2,723 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Codere Online Luxembourg in the 4th quarter worth about $64,000. Hood River Capital Management LLC raised its position in Codere Online Luxembourg by 64.7% in the 4th quarter. Hood River Capital Management LLC now owns 25,596 shares of the company’s stock worth $165,000 after buying an additional 10,059 shares during the last quarter. Diametric Capital LP raised its position in Codere Online Luxembourg by 183.3% in the 4th quarter. Diametric Capital LP now owns 38,743 shares of the company’s stock worth $250,000 after buying an additional 25,068 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Codere Online Luxembourg in the 4th quarter worth about $364,000. Institutional investors own 10.30% of the company’s stock.

About Codere Online Luxembourg

Codere Online Luxembourg, SA operates as an online casino gaming and sports betting company. It also offers online casino wagering products and services, as well as online gambling and other online services. The company offers its products under the Codere and Greenplay brand names. It primarily operates in Spain, Italy, Mexico, Colombia, the United Kingdom, Germany, South Africa, Austria, Malta, Panama, and Argentina.