JetBlue Airways (NASDAQ:JBLU) Trading Down 5.9% – Here’s What Happened

JetBlue Airways Corporation (NASDAQ:JBLU) was down 5.9% on Thursday . The stock traded as low as $4.70 and last traded at $4.7310. Approximately 9,237,084 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 22,514,693 shares. The stock had previously closed at $5.03.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of JetBlue Airways from $3.00 to $4.00 and gave the company a “sell” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday. Susquehanna upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, Citigroup assumed coverage on JetBlue Airways in a research report on Thursday, December 4th. They set a “sell” rating and a $4.10 price target for the company. Six investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and a consensus target price of $5.04.

JetBlue Airways Trading Down 2.8%

The stock has a market cap of $1.78 billion, a PE ratio of -3.70 and a beta of 1.76. The company’s fifty day moving average is $4.50 and its 200-day moving average is $4.67. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.82 and a quick ratio of 0.77.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. On average, analysts predict that JetBlue Airways Corporation will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently made changes to their positions in the company. Par Capital Management Inc. boosted its holdings in JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after buying an additional 2,814,870 shares in the last quarter. Prentice Capital Management LP raised its position in shares of JetBlue Airways by 210.4% in the third quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock worth $11,200,000 after acquiring an additional 1,542,959 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of JetBlue Airways by 755.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,659,497 shares of the transportation company’s stock worth $7,020,000 after acquiring an additional 1,465,500 shares in the last quarter. Amundi grew its position in shares of JetBlue Airways by 962.8% during the 1st quarter. Amundi now owns 1,588,941 shares of the transportation company’s stock valued at $7,659,000 after acquiring an additional 1,439,435 shares during the period. Finally, Nuveen LLC purchased a new position in shares of JetBlue Airways in the 1st quarter valued at about $6,130,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.