Cathay Pacific Airways (OTCMKTS:CPCAY) Shares Gap Down – Here’s Why

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY)’s share price gapped down before the market opened on Tuesday. The stock had previously closed at $9.25, but opened at $9.00. Cathay Pacific Airways shares last traded at $9.00, with a volume of 150 shares changing hands.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded Cathay Pacific Airways from a “strong sell” rating to a “buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Cathay Pacific Airways Stock Up 0.6%

The company has a fifty day moving average price of $9.21 and a 200 day moving average price of $8.43.

About Cathay Pacific Airways

Cathay Pacific Airways Limited is a Hong Kong-based international airline and the flag carrier of Hong Kong. The company provides scheduled passenger and air cargo services, using Hong Kong International Airport as its principal hub. Its network connects Hong Kong with destinations across Asia, Europe, North America, the Middle East, Africa and the Southwest Pacific.

Founded in 1946 by Roy Farrell and Sydney de Kantzow, Cathay Pacific has developed into a global aviation group. Its operations include long-haul and regional passenger flights, cargo transportation and related aviation services.