Air Canada (OTCMKTS:ACDVF) Sees Large Drop in Short Interest

Air Canada (OTCMKTS:ACDVF) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 14,562,200 shares, a decline of 8.1% from the August 15th total of 15,841,100 shares. Based on an average trading volume of 216,800 shares, the days-to-cover ratio is presently 67.2 days.

Air Canada Stock Performance

Shares of Air Canada stock opened at $12.07 on Tuesday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 2.89 and a beta of 2.07. Air Canada has a twelve month low of $10.16 and a twelve month high of $15.10. The company’s fifty day moving average is $11.62 and its 200 day moving average is $12.88. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 9.32.

Air Canada (OTCMKTS:ACDVF) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Air Canada had a return on equity of 188.94% and a net margin of 7.95%. The firm had revenue of $4.03 billion for the quarter. Sell-side analysts forecast that Air Canada will post 1.86 EPS for the current year.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.