Short Interest in JetBlue Airways Co. (NASDAQ:JBLU) Expands By 15.7%

JetBlue Airways Co. (NASDAQ:JBLU) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 51,890,000 shares, a growth of 15.7% from the November 15th total of 44,840,000 shares. Based on an average daily trading volume, of 18,090,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 17.7% of the company’s stock are short sold.

JetBlue Airways Trading Up 0.1 %

NASDAQ:JBLU opened at $7.05 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The firm has a fifty day simple moving average of $6.59 and a 200-day simple moving average of $6.01. JetBlue Airways has a 12 month low of $4.49 and a 12 month high of $8.07. The company has a market capitalization of $2.45 billion, a P/E ratio of -2.80 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly 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 return on equity of 8.35% and a negative net margin of 9.17%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned ($0.39) EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that JetBlue Airways will post -0.89 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC increased its stake in shares of 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 acquiring an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in JetBlue Airways during the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of JetBlue Airways during the 2nd quarter valued at about $34,000. Point72 DIFC Ltd acquired a new position in shares of JetBlue Airways in the 2nd quarter valued at about $48,000. Finally, Glenmede Trust Co. NA purchased a new stake in shares of JetBlue Airways in the third quarter worth about $66,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. TD Cowen lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, Barclays boosted their target price on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average price target of $6.57.

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.