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

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.52, but opened at $5.72. JetBlue Airways shares last traded at $5.87, with a volume of 4,604,999 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Seaport Res Ptn downgraded shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. UBS Group decreased their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. Barclays lifted their target price on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $5.50 price target on shares of JetBlue Airways in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.33.

JetBlue Airways Price Performance

The company has a market cap of $1.96 billion, a PE ratio of -2.37 and a beta of 1.80. The firm has a 50 day simple moving average of $6.91 and a 200-day simple moving average of $6.62. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping 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 9.31%. During the same quarter last year, the firm posted ($0.19) earnings per share. As a group, research analysts predict that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In related news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the sale, the chief financial officer now owns 41,833 shares of the company’s stock, valued at $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nik Mittal purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the acquisition, the director now owns 116,443 shares in the company, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by company insiders.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently bought and sold shares of JBLU. Victory Capital Management Inc. boosted its stake in shares of JetBlue Airways by 11.3% in the third quarter. Victory Capital Management Inc. now owns 153,582 shares of the transportation company’s stock worth $1,007,000 after buying an additional 15,641 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in JetBlue Airways in the third quarter valued at approximately $794,000. Empowered Funds LLC boosted its position in JetBlue Airways by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 1,289,237 shares of the transportation company’s stock worth $8,457,000 after purchasing an additional 65,660 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of JetBlue Airways during the 3rd quarter worth approximately $172,000. Finally, Intech Investment Management LLC purchased a new position in shares of JetBlue Airways during the 3rd quarter valued at approximately $455,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.