Air Canada (OTCMKTS:ACDVF) Sees Significant Growth in Short Interest

Air Canada (OTCMKTS:ACDVF) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 13,637,200 shares, an increase of 26.9% from the March 15th total of 10,745,300 shares. Based on an average trading volume of 282,600 shares, the days-to-cover ratio is currently 48.3 days. Approximately 4.2% of the shares of the company are short sold.

Air Canada Stock Down 0.9 %

Air Canada stock opened at $10.00 on Tuesday. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.08 and a beta of 1.82. The firm has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $13.58. Air Canada has a 1-year low of $8.56 and a 1-year high of $18.56. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 3.47.

Air Canada (OTCMKTS:ACDVF) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Air Canada had a return on equity of 80.37% and a net margin of 7.82%. On average, analysts predict that Air Canada will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered shares of Air Canada to an “underperform” rating in a research report on Tuesday, April 1st.

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.