Cathay Pacific Airways (OTCMKTS:CPCAY) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume jumped 362% intraday to 21,302 shares, with the stock last trading at $7.86 versus the prior close of $7.45 (about a 2.3% intraday rise).
• Analyst sentiment has turned negative: Citigroup cut its rating to "strong sell" and Zacks downgraded to "hold", leaving a MarketBeat consensus rating of "Reduce" (two Holds, one Sell).
• Cathay Pacific is the flag carrier of Hong Kong, operating a global network of passenger and cargo services with a fleet of wide-body Airbus and Boeing aircraft serving more than 80 destinations.

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY - Get Free Report) shares saw an uptick in trading volume on Wednesday . 21,302 shares traded hands during mid-day trading, an increase of 362% from the previous session's volume of 4,610 shares.The stock last traded at $7.86 and had previously closed at $7.45.

Analysts Set New Price Targets

Several research analysts have commented on CPCAY shares. Citigroup downgraded Cathay Pacific Airways from a "hold" rating to a "strong sell" rating in a research note on Monday, January 26th. Zacks Research downgraded shares of Cathay Pacific Airways from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cathay Pacific Airways has a consensus rating of "Reduce".

Cathay Pacific Airways Trading Up 2.3%

The company has a fifty day moving average of $7.89 and a two-hundred day moving average of $7.78.

About Cathay Pacific Airways

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.

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