Short Interest in China Eastern Airlines Co. Limited (OTCMKTS:CHEAF) Drops By 57.7%

China Eastern Airlines Co. Limited (OTCMKTS:CHEAF) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 946,911 shares, a decrease of 57.7% from the May 31st total of 2,238,911 shares. Based on an average trading volume of 736 shares, the days-to-cover ratio is presently 1,286.6 days.

China Eastern Airlines Price Performance

Shares of China Eastern Airlines stock opened at $0.47 on Monday. The company has a 50 day moving average price of $0.53 and a 200 day moving average price of $0.62. China Eastern Airlines has a 52 week low of $0.34 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.