Cathay Pacific Airways (OTCMKTS:CPCAY) Shares Gap Up – Time to Buy?

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.35, but opened at $8.90. Cathay Pacific Airways shares last traded at $8.90, with a volume of 262 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CPCAY. Zacks Research cut Cathay Pacific Airways from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Citigroup upgraded Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Cathay Pacific Airways Price Performance

The firm’s 50 day moving average price is $8.11 and its two-hundred day moving average price is $8.00. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.75.

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.