China Eastern Airlines Co. Limited (OTCMKTS:CHEAF) Sees Large Decrease in Short Interest
by Mitch Edgeman · The Markets DailyChina Eastern Airlines Co. Limited (OTCMKTS:CHEAF – Get Free Report) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 314,000 shares, a decrease of 84.8% from the March 15th total of 2,066,911 shares. Based on an average daily volume of 1,417 shares, the short-interest ratio is currently 221.6 days.
China Eastern Airlines Price Performance
Shares of China Eastern Airlines stock remained flat at $0.58 during trading on Friday. The stock has a 50 day moving average of $0.70 and a two-hundred day moving average of $0.59. China Eastern Airlines has a 52-week low of $0.33 and a 52-week 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.