JetBlue Airways (NASDAQ:JBLU) Stock Price Down 4.4% – Here’s What Happened

Shares of JetBlue Airways Co. (NASDAQ:JBLU) traded down 4.4% during trading on Monday . The stock traded as low as $6.34 and last traded at $6.38. 3,676,452 shares changed hands during trading, a decline of 85% from the average session volume of 24,436,340 shares. The stock had previously closed at $6.67.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Seaport Res Ptn cut shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 target price on shares of JetBlue Airways in a research note on Wednesday, December 11th. Finally, Susquehanna cut their target price on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.51.

JetBlue Airways Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The business’s 50-day simple moving average is $7.24 and its two-hundred day simple moving average is $6.45. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -2.82 and a beta of 1.83.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.29%. During the same period last year, the business earned ($0.19) EPS. As a group, sell-side analysts expect that JetBlue Airways Co. will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other JetBlue Airways news, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now owns 116,443 shares in the company, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently modified their holdings of JBLU. Bogart Wealth LLC raised its stake in JetBlue Airways by 1,951.2% during the third 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 period. Harvest Fund Management Co. Ltd purchased a new position in JetBlue Airways during the third quarter worth about $28,000. Blue Trust Inc. raised its stake in JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in JetBlue Airways during the fourth quarter worth about $40,000. Finally, R Squared Ltd purchased a new position in JetBlue Airways during the fourth quarter worth about $58,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

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.