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

Air Canada (OTCMKTS:ACDVF) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 5,880,000 shares, a decline of 35.2% from the October 31st total of 9,070,700 shares. Based on an average daily volume of 418,400 shares, the short-interest ratio is currently 14.1 days.

Air Canada Stock Performance

Shares of ACDVF stock opened at $17.77 on Friday. Air Canada has a 52 week low of $10.16 and a 52 week high of $17.85. The firm’s 50-day simple moving average is $14.49 and its two-hundred day simple moving average is $13.02. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 3.67 and a beta of 2.05. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.89 and a current ratio of 0.92.

Air Canada (OTCMKTS:ACDVF) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.72. Air Canada had a net margin of 11.53% and a return on equity of 82.89%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.48 billion. As a group, equities analysts forecast that Air Canada will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd.

Air Canada Company Profile

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.