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

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $9.30, but opened at $8.86. Cathay Pacific Airways shares last traded at $9.19, with a volume of 386 shares traded.

Wall Street Analyst Weigh In

CPCAY has been the subject of several analyst reports. Zacks Research downgraded shares of Cathay Pacific Airways from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Citigroup upgraded shares of Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a research report on Tuesday, July 21st. One 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.com, the company currently has a consensus rating of “Moderate Buy”.

Cathay Pacific Airways Stock Down 2.8%

The company has a 50 day moving average price of $8.66 and a 200-day moving average price of $8.21. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.75.

Cathay Pacific Airways Company Profile

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.