Mesa Air Group (NASDAQ:RJET) Shares Down 7.6% – What’s Next?

Mesa Air Group, Inc. (NASDAQ:RJET) shares traded down 7.6% during mid-day trading on Friday . The stock traded as low as $21.59 and last traded at $21.64. 67,473 shares traded hands during trading, a decline of 47% from the average session volume of 126,804 shares. The stock had previously closed at $23.43.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mesa Air Group presently has an average rating of “Hold”.

Mesa Air Group Trading Down 6.5%

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $19.72 and a two-hundred day moving average of $19.68. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 23.30 and a beta of 1.58.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter. Mesa Air Group had a return on equity of 6.13% and a net margin of 3.29%.The firm had revenue of $527.40 million during the quarter.

Institutional Investors Weigh In On Mesa Air Group

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC acquired a new stake in shares of Mesa Air Group during the fourth quarter worth $442,000. GSA Capital Partners LLP acquired a new stake in shares of Mesa Air Group during the third quarter worth $56,000. Pinnacle Holdings LLC lifted its holdings 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 worth $2,117,000 after purchasing an additional 392,878 shares during the period. Finally, Par Capital Management Inc. acquired a new stake in shares of Mesa Air Group during the second quarter worth $2,091,000. 13.34% of the stock is owned by institutional investors and hedge funds.

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.