JetBlue Airways (NASDAQ:JBLU) Shares Gap Down to $7.51

JetBlue Airways Co. (NASDAQ:JBLU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.51, but opened at $6.11. JetBlue Airways shares last traded at $6.44, with a volume of 11,918,703 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JBLU. Bank of America downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $6.00 to $3.00 in a report on Tuesday, January 9th. Evercore ISI boosted their target price on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. UBS Group began coverage on shares of JetBlue Airways in a research note on Wednesday, March 20th. They issued a “sell” rating and a $5.00 price target for the company. Barclays started coverage on shares of JetBlue Airways in a report on Wednesday, March 27th. They issued an “underweight” rating and a $6.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 target price for the company in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.86.

JetBlue Airways Price Performance

The firm has a fifty day moving average of $6.97 and a 200 day moving average of $5.64. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.15 billion, a P/E ratio of -7.06 and a beta of 1.86.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 30th. The transportation company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. On average, equities research analysts anticipate that JetBlue Airways Co. will post -0.72 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of JetBlue Airways in the first quarter worth $25,000. GAMMA Investing LLC boosted its position in JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares during the last quarter. Performa Ltd US LLC grew its stake in shares of JetBlue Airways by 96.6% during the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 2,800 shares during the period. Versant Capital Management Inc increased its position in shares of JetBlue Airways by 41.3% during the 4th quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 1,861 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of JetBlue Airways by 72.8% in the 3rd quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock worth $30,000 after purchasing an additional 2,751 shares during the period. 83.71% of the stock is owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.