Short Interest in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Declines By 7.3%

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 207,300 shares, a drop of 7.3% from the March 15th total of 223,600 shares. Based on an average daily volume of 41,000 shares, the days-to-cover ratio is currently 5.1 days. Approximately 1.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Codere Online Luxembourg

An institutional investor recently bought a new position in Codere Online Luxembourg stock. Renaissance Technologies LLC purchased a new stake in shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,814 shares of the company’s stock, valued at approximately $57,000. Institutional investors and hedge funds own 10.30% of the company’s stock.

Codere Online Luxembourg Stock Performance

NASDAQ CDRO opened at $6.66 on Wednesday. The business has a 50 day simple moving average of $6.50 and a two-hundred day simple moving average of $4.40. Codere Online Luxembourg has a 1-year low of $2.15 and a 1-year high of $8.09.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased their target price on Codere Online Luxembourg from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Codere Online Luxembourg Company Profile

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.