Mesa Air Group (NASDAQ:MESA) Trading Down 9.2% – Here’s What Happened

Mesa Air Group, Inc. (NASDAQ:MESA)’s stock price dropped 9.2% during mid-day trading on Wednesday . The stock traded as low as $1.04 and last traded at $1.09. Approximately 307,115 shares were traded during trading, a decline of 50% from the average daily volume of 619,294 shares. The stock had previously closed at $1.20.

Mesa Air Group Price Performance

The company has a fifty day simple moving average of $0.98 and a 200 day simple moving average of $1.24. The stock has a market capitalization of $46.68 million, a price-to-earnings ratio of -0.49 and a beta of 3.14. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.29 and a current ratio of 0.45.

Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings data on Wednesday, October 16th. The company reported ($0.23) EPS for the quarter. The company had revenue of $110.79 million during the quarter. Mesa Air Group had a negative return on equity of 32.45% and a negative net margin of 19.86%.

Institutional Trading of Mesa Air Group

A number of large investors have recently bought and sold shares of MESA. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Mesa Air Group by 47.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after buying an additional 8,181 shares in the last quarter. Regent Peak Wealth Advisors LLC bought a new position in Mesa Air Group during the third quarter worth $36,000. Finally, Renaissance Technologies LLC grew its holdings in Mesa Air Group by 69.9% in the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after purchasing an additional 13,700 shares during the period. 13.34% of the stock is currently owned by institutional investors and hedge funds.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.