China Eastern Airlines Co. Limited (OTCMKTS:CHEAF) Sees Significant Decline in Short Interest

China Eastern Airlines Co. Limited (OTCMKTS:CHEAF) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 500,366 shares, a decline of 79.4% from the June 30th total of 2,434,000 shares. Based on an average daily volume of 200 shares, the short-interest ratio is presently 2,501.8 days.

China Eastern Airlines Stock Performance

Shares of OTCMKTS:CHEAF opened at $0.40 on Friday. The stock has a 50-day simple moving average of $0.47 and a 200-day simple moving average of $0.59. China Eastern Airlines has a 1 year low of $0.34 and a 1 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.