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

JetBlue Airways Co. (NASDAQ:JBLU)’s share price 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 traded.

Analysts Set New Price Targets

A number of research firms have commented on JBLU. 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 report on Monday, September 9th. Evercore ISI raised their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Susquehanna lifted their target price on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Finally, TD Cowen upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Price Performance

The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. 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’s 50 day moving average is $6.16 and its 200 day moving average is $5.92.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.36 billion. During the same period in the previous year, the company posted ($0.39) EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. Research analysts anticipate that JetBlue Airways Co. will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of JetBlue Airways in the 1st quarter worth $25,000. Bogart Wealth LLC boosted its holdings in JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 4,000 shares in the last quarter. Trust Co. of Vermont acquired a new position in JetBlue Airways during the 2nd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways during the 2nd quarter worth approximately $34,000. Finally, GAMMA Investing LLC lifted its holdings in shares of JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after buying an additional 2,993 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.