Cathay Pacific Airways (OTCMKTS:CPCAY) Sees Large Volume Increase – Time to Buy?

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) shares saw an uptick in trading volume on Monday . 6,693 shares were traded during trading, an increase of 98% from the previous session’s volume of 3,378 shares.The stock last traded at $8.00 and had previously closed at $7.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPCAY. Zacks Research raised shares of Cathay Pacific Airways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Citigroup lowered Cathay Pacific Airways from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cathay Pacific Airways presently has an average rating of “Hold”.

Cathay Pacific Airways Trading Up 2.9%

The stock’s fifty day moving average is $8.10 and its two-hundred day moving average is $7.60.

About Cathay Pacific Airways

Cathay Pacific Airways Limited (OTCMKTS:CPCAY) is the flag carrier of Hong Kong, operating a comprehensive network of scheduled passenger and cargo services across Asia, Europe, North America and Australasia. The airline’s fleet consists primarily of wide-body aircraft, including Airbus A330, A350 and Boeing 777 models, which are deployed on routes connecting Hong Kong International Airport to more than 80 destinations worldwide. Cathay Pacific is a founding member of the oneworld alliance, enabling seamless travel and loyalty benefits through partnerships with other leading global carriers.

Established in 1946 by American entrepreneur Roy C.