Short Interest in Air Canada (OTCMKTS:ACDVF) Decreases By 17.4%

Air Canada (OTCMKTS:ACDVF - Get Free Report) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 11,919,100 shares, a drop of 17.4% from the April 30th total of 14,432,800 shares. Approximately 3.7% of the company's stock are sold short. Based on an average daily volume of 384,700 shares, the days-to-cover ratio is currently 31.0 days.

Air Canada Stock Performance

Shares of ACDVF stock traded down $0.01 during midday trading on Wednesday, hitting $13.80. The company had a trading volume of 2,215,094 shares, compared to its average volume of 313,241. Air Canada has a 52-week low of $8.56 and a 52-week high of $18.56. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.92 and a quick ratio of 0.89. The company's 50 day simple moving average is $11.32 and its 200 day simple moving average is $13.13. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 4.25 and a beta of 1.74.

Air Canada (OTCMKTS:ACDVF - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $5.35 billion. Air Canada had a net margin of 7.82% and a return on equity of 80.37%. Research analysts anticipate that Air Canada will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ACDVF shares. Royal Bank of Canada upgraded shares of Air Canada from a "hold" rating to a "moderate buy" rating in a research note on Monday, May 12th. Jefferies Financial Group lowered Air Canada to an "underperform" rating in a research report on Tuesday, April 1st.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.