Global Crossing Airlines Group Inc. (OTCMKTS:JETMF) Sees Large Growth in Short Interest

Global Crossing Airlines Group Inc. (OTCMKTS:JETMF) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 86,868 shares, a growth of 95.5% from the June 15th total of 44,427 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 199,564 shares, the days-to-cover ratio is currently 0.4 days.

Global Crossing Airlines Group Stock Performance

JETMF stock traded down $0.01 on Friday, hitting $0.57. 2,675 shares of the company’s stock were exchanged, compared to its average volume of 71,329. The firm has a 50 day moving average price of $0.71 and a two-hundred day moving average price of $0.62. Global Crossing Airlines Group has a 12-month low of $0.38 and a 12-month high of $0.87. The stock has a market cap of $38.37 million, a P/E ratio of -57.42 and a beta of 1.00.

Global Crossing Airlines Group (OTCMKTS:JETMF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $76.57 million during the quarter, compared to analyst estimates of $60.53 million. Sell-side analysts expect that Global Crossing Airlines Group will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Litchfield Hills Research started coverage on shares of Global Crossing Airlines Group in a report on Monday, June 22nd. They issued a “buy” rating for the company. Zacks Research upgraded shares of Global Crossing Airlines Group to a “hold” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Global Crossing Airlines Group has an average rating of “Moderate Buy”.

Global Crossing Airlines Group Company Profile

Global Crossing Airlines Group (OTCMKTS: JETMF) is an aviation holding company whose principal subsidiary, GlobalX Airlines, provides passenger charter, scheduled and ACMI (aircraft, crew, maintenance and insurance) services. The company operates a fleet of narrow-body aircraft, primarily Airbus A320‐family jets, configured to support leisure and charter markets, air-bridge operations and ad hoc charters.

The company’s main business activities include on-demand charter flights for tour operators, cruise lines and corporate clients, as well as scheduled service linking key U.S.