Cathay Pacific Airways (OTCMKTS:CPCAY) Shares Gap Down – Should You Sell?

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) gapped down prior to trading on Friday. The stock had previously closed at $8.45, but opened at $7.97. Cathay Pacific Airways shares last traded at $8.31, with a volume of 1,715 shares changing hands.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cathay Pacific Airways presently has an average rating of “Moderate Buy”.

Cathay Pacific Airways Price Performance

The firm has a 50 day moving average price of $9.05 and a 200-day moving average price of $8.50.

Cathay Pacific Airways Company Profile

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.