Traders Purchase High Volume of Call Options on JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 22,185 call options on the stock. This is an increase of 33% compared to the average volume of 16,742 call options.

Institutional Trading of JetBlue Airways

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of JetBlue Airways during the 1st quarter worth approximately $25,000. Texas Permanent School Fund Corp lifted its holdings in shares of JetBlue Airways by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after acquiring an additional 4,157 shares during the period. SG Americas Securities LLC bought a new stake in shares of JetBlue Airways during the 1st quarter worth approximately $1,285,000. ProShare Advisors LLC lifted its holdings in shares of JetBlue Airways by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 67,717 shares of the transportation company’s stock worth $502,000 after acquiring an additional 4,663 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in JetBlue Airways by 208.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 391,614 shares of the transportation company’s stock valued at $2,851,000 after purchasing an additional 264,460 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

JBLU traded up $0.62 on Wednesday, reaching $6.94. The company had a trading volume of 37,452,815 shares, compared to its average volume of 15,768,022. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The stock has a market cap of $2.41 billion, a P/E ratio of -2.75 and a beta of 1.92. JetBlue Airways has a fifty-two week low of $4.09 and a fifty-two week high of $8.07. The company’s fifty day moving average is $6.36 and its 200 day moving average is $5.89.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.39) EPS. As a group, analysts predict that JetBlue Airways will post -0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on JBLU shares. Citigroup boosted their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna boosted their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, TD Cowen boosted their price objective 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, JetBlue Airways currently has a consensus rating of “Hold” and an average target price of $6.31.

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.