Cathay Pacific Airways (OTCMKTS:CPCAY) Sees Strong Trading Volume – Here’s Why

Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) shares saw unusually-strong trading volume on Thursday. Approximately 7,403 shares traded hands during mid-day 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.

Analysts Set New Price Targets

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

Cathay Pacific Airways Trading Down 0.6%

The business’s 50-day moving average price is $9.03 and its 200-day moving average price 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.