Cathay Pacific Airways (OTCMKTS:CPCAY) Shares Gap Up – Here’s What Happened

Shares of Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) gapped up prior to trading on Friday . The stock had previously closed at $8.86, but opened at $9.21. Cathay Pacific Airways shares last traded at $9.10, with a volume of 793 shares trading hands.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Cathay Pacific Airways has an average rating of “Moderate Buy”.

Cathay Pacific Airways Stock Performance

The company has a quick ratio of 0.38, a current ratio of 0.44 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $9.09 and a 200-day simple moving average of $8.34.

Cathay Pacific Airways Company Profile

Cathay Pacific Airways Limited is the flag carrier of Hong Kong and a principal company of the Cathay Group. Founded in 1946, the airline is headquartered at Hong Kong International Airport, which serves as its primary hub. Cathay Pacific operates scheduled passenger and cargo services connecting Hong Kong with destinations across Asia, Europe, North America, Australia, the Middle East and other regions.

The company provides air transportation for leisure and business travelers, along with freight and logistics services through its cargo operations.