City Developments Ltd. (OTCMKTS:CDEVY) Short Interest Down 54.4% in May

City Developments Ltd. (OTCMKTS:CDEVY) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 1,591 shares, a decline of 54.4% from the May 14th total of 3,487 shares. Based on an average trading volume of 5,738 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

City Developments Stock Performance

Shares of OTCMKTS CDEVY traded up $0.12 during trading on Friday, reaching $6.57. The company had a trading volume of 226 shares, compared to its average volume of 2,237. City Developments has a twelve month low of $3.68 and a twelve month high of $8.20. The stock has a 50-day moving average price of $6.46 and a two-hundred day moving average price of $6.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.77 and a current ratio of 0.77.

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.