Mesa Air Group (NASDAQ:RJET) Shares Gap Down – Time to Sell?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $19.50, but opened at $18.05. Mesa Air Group shares last traded at $18.22, with a volume of 1,649 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. Wall Street Zen raised Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Mesa Air Group has an average rating of “Sell”.

Mesa Air Group Price Performance

The business’s 50-day simple moving average is $20.48 and its two-hundred day simple moving average is $19.17. The stock has a market cap of $491.78 million, a price-to-earnings ratio of -2.91 and a beta of 1.75.

Hedge Funds Weigh In On Mesa Air Group

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Mesa Air Group in the 3rd quarter valued at approximately $56,000. Pinnacle Holdings LLC raised its stake in shares of Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after acquiring an additional 392,878 shares during the last quarter. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group during the second quarter worth $444,000. Finally, Par Capital Management Inc. bought a new stake in shares of Mesa Air Group in the second quarter worth $2,091,000. 13.34% of the stock is currently owned by institutional investors.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.