Cathay Pacific Airways (OTCMKTS:CPCAY) Shares Gap Up – What’s Next?

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $8.52, but opened at $9.30. Cathay Pacific Airways shares last traded at $9.30, with a volume of 429 shares changing hands.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Cathay Pacific Airways currently has a consensus rating of “Moderate Buy”.

Cathay Pacific Airways Price Performance

The stock has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $8.39.

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.