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

City Developments Ltd. (OTCMKTS:CDEVY) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 1,591 shares, a drop of 54.4% from the May 14th total of 3,487 shares. Based on an average daily volume of 5,738 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

City Developments Stock Performance

Shares of CDEVY traded up $0.12 during trading hours on Friday, hitting $6.57. The stock had a trading volume of 226 shares, compared to its average volume of 2,237. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $6.46 and its 200 day simple moving average is $6.63. City Developments has a 12-month low of $3.68 and a 12-month high of $8.20.

Wall Street Analysts Forecast Growth

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

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.