JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU) gapped down prior to trading on Tuesday . The stock had previously closed at $7.32, but opened at $6.72. JetBlue Airways shares last traded at $6.28, with a volume of 4,902,282 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI raised their price target 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. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. TD Cowen lifted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Susquehanna upped their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Trading Down 7.2 %

The business’s 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $5.92. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -2.28 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 (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted ($0.39) EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts anticipate that JetBlue Airways Co. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in JetBlue Airways during the 3rd quarter valued at $5,311,000. Bogart Wealth LLC increased its holdings in JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of JetBlue Airways by 397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 82,623 shares of the transportation company’s stock valued at $542,000 after purchasing an additional 66,028 shares in the last quarter. Jade Capital Advisors LLC boosted its stake in shares of JetBlue Airways by 800.0% during the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after buying an additional 400,000 shares during the last quarter. Finally, Resonant Capital Advisors LLC acquired a new stake in shares of JetBlue Airways during the third quarter worth approximately $67,000. 83.71% of the stock is owned by institutional investors and hedge funds.

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.