China Eastern Airlines Co. Limited (OTCMKTS:CHEAF – Get Free Report) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 500,366 shares, a drop of 79.4% from the June 30th total of 2,434,000 shares. Based on an average daily trading volume, of 200 shares, the days-to-cover ratio is currently 2,501.8 days.
China Eastern Airlines Price Performance
China Eastern Airlines stock opened at $0.40 on Friday. The stock’s 50 day moving average price is $0.47 and its 200 day moving average price is $0.59. China Eastern Airlines has a one year low of $0.34 and a one year high of $0.80.
China Eastern Airlines Company Profile
China Eastern Airlines Corporation Limited is one of the three major state-owned airlines in the People’s Republic of China, with its headquarters and primary hubs located in Shanghai. Established in 1988 through the reorganization of the Civil Aviation Administration of China’s regional operations, the company operates under the auspices of China Eastern Air Holding Company, a state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission. Over the decades, China Eastern has grown into a leading carrier, leveraging Shanghai’s Pudong and Hongqiao airports as central nodes for its expansive route network.
The company’s core business comprises scheduled passenger air transport services, freight and mail delivery, and aircraft maintenance services.
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