Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 1-Year High – What’s Next?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.48 and last traded at $36.71, with a volume of 316254 shares trading hands. The stock had previously closed at $34.72.

Wall Street Analyst Weigh In

CDNL has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Cardinal Infrastructure Group from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Weiss Ratings began coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They set a “sell (e)” rating for the company. Zacks Research upgraded Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 6th. Finally, DA Davidson raised their price objective on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Cardinal Infrastructure Group Price Performance

The stock’s fifty day moving average price is $29.09.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently modified their holdings of CDNL. HBK Investments L P bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter valued at about $1,668,000. HRT Financial LP purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth about $586,000. Oxford Asset Management LLP bought a new position in Cardinal Infrastructure Group during the fourth quarter valued at approximately $355,000. XTX Topco Ltd purchased a new position in Cardinal Infrastructure Group during the 4th quarter valued at approximately $242,000. Finally, Zuckerman Investment Group LLC purchased a new position in Cardinal Infrastructure Group during the 4th quarter valued at approximately $242,000.

About Cardinal Infrastructure Group

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.