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

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) gapped down before the market opened on Friday . The stock had previously closed at $9.8260, but opened at $9.39. Cathay Pacific Airways shares last traded at $9.87, with a volume of 1,064 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on CPCAY. Citigroup upgraded Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a report on Tuesday, July 21st. Zacks Research lowered Cathay Pacific Airways from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Cathay Pacific Airways Trading Down 1.8%

The firm’s fifty day moving average price is $8.41 and its two-hundred day moving average price is $8.11. The company has a current ratio of 0.38, a quick 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.