JetBlue Airways (NASDAQ:JBLU) Trading Down 4.8% – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) fell 4.8% during mid-day trading on Wednesday . The stock traded as low as $5.58 and last traded at $5.48. 2,415,440 shares were traded during trading, a decline of 90% from the average session volume of 23,496,020 shares. The stock had previously closed at $5.75.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JBLU. Citigroup increased their target price on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. UBS Group lowered their price objective on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. Barclays raised their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, November 14th. Finally, Bank of America reiterated an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $6.33.

JetBlue Airways Trading Down 3.2 %

The stock has a market cap of $1.96 billion, a P/E ratio of -2.35 and a beta of 1.80. The firm’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $6.62. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter last year, the company posted ($0.19) EPS. Equities research analysts expect that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, Director Nik Mittal purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now owns 116,443 shares in the company, valued at $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the sale, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new position in JetBlue Airways during the 3rd quarter worth $28,000. Blue Trust Inc. increased its position in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in JetBlue Airways during the 4th quarter valued at approximately $40,000. Bogart Wealth LLC boosted its stake in JetBlue Airways by 67.8% during the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 2,850 shares during the period. Finally, R Squared Ltd bought a new stake in shares of JetBlue Airways in the 4th quarter worth approximately $58,000. 83.71% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

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.