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

City Developments Ltd. (OTCMKTS:CDEVY) shares saw strong trading volume on Thursday . 170,209 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

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

City Developments Trading Down 6.5%

The company’s fifty day moving average price is $7.05 and its two-hundred day moving average price is $5.99.

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.