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

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $7.73, but opened at $7.30. Cathay Pacific Airways shares last traded at $7.4336, with a volume of 38,599 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on CPCAY. Citigroup cut shares of Cathay Pacific Airways from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Zacks Research upgraded shares of Cathay Pacific Airways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cathay Pacific Airways has an average rating of “Hold”.

Cathay Pacific Airways Price Performance

The business has a 50 day moving average price of $8.11 and a two-hundred day moving average price of $7.66.

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.