Cathay Pacific Airways (OTCMKTS:CPCAY) Sees Strong Trading Volume – Time to Buy?

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) saw unusually-high trading volume on Thursday. Approximately 7,403 shares were traded during trading, an increase of 61% from the previous session’s volume of 4,588 shares. The stock last traded at $8.50 and had previously closed at $8.74.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cathay Pacific Airways Price Performance

The business’s 50 day moving average is $9.07 and its 200 day moving average is $8.50.

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.