JetBlue Airways (NASDAQ:JBLU) Trading Down 6.4% – Time to Sell?

Shares of JetBlue Airways Co. (NASDAQ:JBLU) fell 6.4% during trading on Monday . The company traded as low as $4.82 and last traded at $4.87. 3,586,085 shares were traded during trading, a decline of 79% from the average session volume of 17,211,800 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JBLU shares. Bank of America restated an “underperform” rating and issued a $6.50 target price on shares of JetBlue Airways in a research report on Friday, January 17th. Morgan Stanley restated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a research note on Wednesday, December 11th. Susquehanna dropped their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft cut JetBlue Airways from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $6.33.

JetBlue Airways Trading Down 7.4 %

The company’s fifty day moving average is $6.40 and its two-hundred day moving average is $6.65. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -2.07 and a beta of 1.80.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, research analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nik Mittal acquired 100,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the purchase, the director now owns 116,443 shares in the company, valued at $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the sale, the chief financial officer now directly owns 41,833 shares of the company’s stock, 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. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after buying an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of JetBlue Airways during the fourth quarter worth about $40,000. Bogart Wealth LLC raised its holdings in JetBlue Airways by 67.8% during the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after purchasing an additional 2,850 shares in the last quarter. R Squared Ltd acquired a new stake in JetBlue Airways in the fourth quarter valued at about $58,000. Finally, Glenmede Trust Co. NA purchased a new stake in JetBlue Airways in the 3rd quarter valued at approximately $66,000. 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.