JetBlue Airways (NASDAQ:JBLU) Shares Down 5.2% – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price fell 5.2% during mid-day trading on Monday . The company traded as low as $6.08 and last traded at $6.24. 9,719,958 shares were traded during trading, a decline of 62% from the average session volume of 25,857,682 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JBLU. Bank of America reissued an “underperform” rating and set a $6.50 price objective on shares of JetBlue Airways in a research report on Friday, January 17th. StockNews.com raised JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Susquehanna lifted their target price on JetBlue Airways from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a research report on Wednesday, December 11th. Finally, Barclays boosted their price objective on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.69.

JetBlue Airways Stock Performance

The firm has a 50 day moving average of $7.20 and a two-hundred day moving average of $6.43. The stock has a market cap of $2.10 billion, a PE ratio of -2.58 and a beta of 1.83. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18.

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

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after buying an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in JetBlue Airways in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in JetBlue Airways by 130.8% in the fourth 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 last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of JetBlue Airways in the fourth quarter valued at approximately $40,000. Finally, R Squared Ltd acquired a new position in shares of JetBlue Airways in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.