China Eastern Airlines (NYSE:CEA) Shares Gap Down to $22.74

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Shares of China Eastern Airlines Co. Limited (NYSE:CEA) gapped down prior to trading on Tuesday . The stock had previously closed at $22.74, but opened at $21.71. China Eastern Airlines shares last traded at $21.71, with a volume of 100 shares trading hands.

Separately, Zacks Investment Research raised China Eastern Airlines from a “sell” rating to a “hold” rating in a report on Tuesday, April 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.00.

The firm has a market cap of $7.11 billion, a PE ratio of -5.05 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.24 and a quick ratio of 0.21. The stock has a 50-day moving average price of $23.60 and a 200 day moving average price of $22.37.

Institutional investors and hedge funds have recently bought and sold shares of the business. OLD Mission Capital LLC acquired a new stake in shares of China Eastern Airlines in the third quarter worth approximately $564,000. BlackRock Inc. acquired a new stake in shares of China Eastern Airlines during the 4th quarter worth $36,000. Finally, Morgan Stanley raised its position in shares of China Eastern Airlines by 34,809.1% in the 3rd quarter. Morgan Stanley now owns 11,520 shares of the transportation company’s stock worth $249,000 after buying an additional 11,487 shares during the period. Institutional investors own 0.11% of the company’s stock.

About China Eastern Airlines (NYSE:CEA)

China Eastern Airlines Corporation Limited, together with its subsidiaries, operates in the civil aviation industry in the People's Republic of China and internationally. The company offers passenger, cargo, mail delivery, ground, tour operations, air catering, and other miscellaneous services. It is also involved in flight training; airline maintenance; the provision of import and export, investment, leasing, and consultation services; hotel services; the research and development of technology and products in the field of aviation; and e-commerce platform and ticket agent services.

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