Zacks Research Downgrades Global Crossing Airlines Group (OTCMKTS:JETMF) to Strong Sell

Global Crossing Airlines Group (OTCMKTS:JETMF) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Litchfield Hills Research started coverage on Global Crossing Airlines Group in a research report on Monday, June 22nd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Global Crossing Airlines Group Stock Performance

Shares of OTCMKTS JETMF opened at $0.56 on Tuesday. Global Crossing Airlines Group has a 1 year low of $0.38 and a 1 year high of $0.87. The stock’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.61. The firm has a market cap of $37.15 million, a price-to-earnings ratio of -13.90 and a beta of 1.00.

Global Crossing Airlines Group (OTCMKTS:JETMF) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $62.02 million during the quarter, compared to analysts’ expectations of $67.11 million. As a group, research analysts predict that Global Crossing Airlines Group will post 0.06 EPS for the current year.

About Global Crossing Airlines Group

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.