China Eastern Airlines Co. Limited (NYSE:CEA) Short Interest Update

Posted by on Jun 17th, 2022

China Eastern Airlines Co. Limited (NYSE:CEA – Get Rating) saw a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 7,500 shares, a drop of 14.8% from the May 15th total of 8,800 shares. Based on an average daily trading volume, of 18,900 shares, the days-to-cover ratio is presently 0.4 days.

Shares of NYSE:CEA traded down $0.29 during trading on Friday, hitting $16.67. The stock had a trading volume of 2,304 shares, compared to its average volume of 6,857. China Eastern Airlines has a 12-month low of $15.77 and a 12-month high of $22.25. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -2.34 and a beta of 1.08. The company has a quick ratio of 0.26, a current ratio of 0.28 and a debt-to-equity ratio of 2.68. The stock has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $18.11.

China Eastern Airlines (NYSE:CEA – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The transportation company reported ($3.26) earnings per share (EPS) for the quarter. The firm had revenue of $2 billion during the quarter. China Eastern Airlines had a negative return on equity of 31.51% and a negative net margin of 24.49%. As a group, sell-side analysts forecast that China Eastern Airlines will post -4.78 earnings per share for the current year.

A number of research firms have commented on CEA. Jefferies Financial Group cut China Eastern Airlines from a “hold” rating to an “underperform” rating in a research note on Thursday. Credit Suisse Group cut China Eastern Airlines from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 15th. StockNews.com cut China Eastern Airlines from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. JPMorgan Chase & Co. upgraded China Eastern Airlines from a “neutral” rating to an “overweight” rating in a research note on Monday, April 18th. Finally, HSBC upgraded China Eastern Airlines from a “reduce” rating to a “hold” rating in a research note on Friday, April 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

A number of institutional investors have recently bought and sold shares of CEA. OLD Mission Capital LLC acquired a new stake in China Eastern Airlines during the third quarter worth about $564,000. Veriti Management LLC acquired a new stake in China Eastern Airlines in the first quarter valued at approximately $402,000. Jane Street Group LLC grew its holdings in China Eastern Airlines by 12.7% in the third quarter. Jane Street Group LLC now owns 34,148 shares of the transportation company’s stock valued at $652,000 after purchasing an additional 3,844 shares during the period. Finally, Bank of America Corp DE grew its holdings in China Eastern Airlines by 101.0% in the first quarter. Bank of America Corp DE now owns 5,432 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 2,730 shares during the period. 0.05% of the stock is currently owned by hedge funds and other institutional investors.

China Eastern Airlines Company Profile (Get Rating)

China Eastern Airlines Corporation Limited, together with its subsidiaries, operates in the civil aviation industry in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. The company offers passenger, cargo, mail delivery, ground, tour operations, air catering, and other miscellaneous services.

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