JetBlue Airways (NASDAQ:JBLU) Shares Down 6.4% – Here’s Why

JetBlue Airways Co. (NASDAQ:JBLU)’s share price traded down 6.4% during trading on Wednesday . The stock traded as low as $5.66 and last traded at $5.68. 18,885,904 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 15,508,019 shares. The stock had previously closed at $6.07.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JBLU. TD Cowen raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Citigroup upped their price objective on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Evercore ISI increased their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, JetBlue Airways currently has an average rating of “Hold” and an average price target of $5.98.

JetBlue Airways Price Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 0.50. The firm has a market capitalization of $2.00 billion, a PE ratio of -2.29 and a beta of 1.92. The business’s 50 day moving average is $6.18 and its two-hundred day moving average is $5.92.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that JetBlue Airways Co. will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in JBLU. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways during the 1st quarter valued at $25,000. Trust Co. of Vermont bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $27,000. Bogart Wealth LLC lifted its holdings in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after buying an additional 4,000 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways during the 2nd quarter valued at approximately $34,000. Finally, GAMMA Investing LLC raised its position in shares of JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock worth $41,000 after acquiring an additional 2,993 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.