JetBlue Airways (NASDAQ:JBLU) Stock Price Up 11.5% – Should You Buy?

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) rose 11.5% during mid-day trading on Monday . The company traded as high as $5.56 and last traded at $5.5850. Approximately 19,617,588 shares traded hands during trading, a decline of 21% from the average daily volume of 24,865,625 shares. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JBLU shares. Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, April 16th. Wall Street Zen raised shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Citigroup dropped their price target on shares of JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating on the stock in a research report on Friday, March 20th. BMO Capital Markets started coverage on shares of JetBlue Airways in a research report on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target on the stock. Finally, TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, JetBlue Airways has an average rating of “Reduce” and an average target price of $4.93.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market cap of $1.91 billion, a PE ratio of -2.64 and a beta of 1.73. The company’s 50 day simple moving average is $5.04 and its 200 day simple moving average is $5.00.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.59) EPS. Analysts expect that JetBlue Airways Corporation will post -2.78 earnings per share for the current year.

Insider Activity

In other news, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the sale, the director owned 35,479 shares in the company, valued at $191,941.39. This trade represents a 47.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the sale, the director owned 13,379 shares of the company’s stock, valued at approximately $62,881.30. The trade was a 72.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in shares of JetBlue Airways by 85.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after purchasing an additional 5,591,470 shares during the last quarter. U S Global Investors Inc. increased its stake in shares of JetBlue Airways by 17.2% during the 1st quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock worth $24,498,000 after purchasing an additional 813,782 shares during the last quarter. Par Capital Management Inc. increased its stake in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after purchasing an additional 2,814,870 shares during the last quarter. Invesco Ltd. grew its stake in JetBlue Airways by 10.1% in the 2nd quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock valued at $19,091,000 after buying an additional 412,921 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in JetBlue Airways by 1,157.9% in the 4th quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after buying an additional 3,089,226 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.