Cathay Pacific Airways (OTCMKTS:CPCAY) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.38 and traded as high as $8.73. Cathay Pacific Airways shares last traded at $8.72, with a volume of 625 shares trading hands.

Analyst Ratings Changes

Separately, Citigroup raised shares of Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Cathay Pacific Airways Stock Up 4.3%

The stock’s fifty day simple moving average is $8.97 and its 200-day simple moving average is $8.38.

About Cathay Pacific Airways

Cathay Pacific Airways Limited is the flag carrier of Hong Kong and the principal operating airline of the Cathay Group. The company provides scheduled passenger and air cargo services through its Cathay Pacific brand, connecting Hong Kong with destinations across Asia, Europe, North America, Oceania, the Middle East and Africa. Hong Kong International Airport serves as its primary hub.

In addition to passenger transportation, Cathay Pacific operates Cathay Cargo, which provides air freight services for commercial shipments, specialized cargo and logistics customers.