Canada Jetlines Ltd (CVE:JET) was up 8.8% during mid-day trading on Wednesday . The company traded as high as C$0.50 and last traded at C$0.50. Approximately 136,825 shares changed hands during trading, a decline of 40% from the average daily volume of 228,046 shares. The stock had previously closed at C$0.46.

Separately, Fundamental Research dropped their target price on shares of Canada Jetlines from C$2.57 to C$2.04 and set a “top pick” rating for the company in a report on Thursday, May 9th.

The firm has a market capitalization of $35.50 million and a PE ratio of -5.93.

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About Canada Jetlines (CVE:JET)

Canada Jetlines Ltd. operates as an ultra-low cost carrier scheduled airline. The company plans to operate flights across Canada; and provide non-stop services from Canada to the United States, Mexico, and the Caribbean. It also provides services to passengers, such as in-flight food and baggage. The company is headquartered in Vancouver, Canada.

Further Reading: Why are analyst ratings important in trading stocks?

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