JetBlue Airways Co. (NASDAQ:JBLU) Short Interest Down 13.8% in September

JetBlue Airways Co. (NASDAQ:JBLU) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 53,960,000 shares, a decrease of 13.8% from the September 15th total of 62,580,000 shares. Currently, 17.4% of the shares of the company are sold short. Based on an average daily trading volume, of 17,720,000 shares, the short-interest ratio is presently 3.0 days.

JetBlue Airways Price Performance

JetBlue Airways stock traded up $0.09 during mid-day trading on Wednesday, reaching $7.02. The company had a trading volume of 2,008,476 shares, compared to its average volume of 15,257,780. The stock’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $5.90. The company has a market capitalization of $2.39 billion, a P/E ratio of -2.81 and a beta of 1.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. JetBlue Airways has a 1 year low of $3.42 and a 1 year high of $7.65.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.26. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. JetBlue Airways’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts predict that JetBlue Airways will post -0.91 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in JetBlue Airways during the 1st quarter valued at about $25,000. GAMMA Investing LLC increased its stake in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in JetBlue Airways in the 2nd quarter valued at approximately $34,000. Finally, Point72 DIFC Ltd acquired a new stake in JetBlue Airways during the 2nd quarter valued at $48,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup increased their price objective on JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Evercore ISI increased their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Finally, TD Cowen lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.80.

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.