City Developments (OTCMKTS:CDEVY) Sees Unusually-High Trading Volume – Still a Buy?

City Developments Ltd. (OTCMKTS:CDEVY) shares saw unusually-high trading volume on Thursday . Approximately 170,209 shares traded hands during trading, an increase of 797% from the previous session’s volume of 18,967 shares.The stock last traded at $7.30 and had previously closed at $7.81.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded shares of City Developments to a “moderate buy” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, City Developments currently has a consensus rating of “Buy”.

City Developments Stock Performance

The firm has a 50 day moving average price of $7.05 and a 200-day moving average price of $5.99.

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.