Short Interest in Mesa Air Group, Inc. (NASDAQ:MESA) Grows By 20.9%

Mesa Air Group, Inc. (NASDAQ:MESA) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 279,300 shares, a growth of 20.9% from the August 31st total of 231,100 shares. Based on an average daily trading volume, of 220,500 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Trading of Mesa Air Group

Several hedge funds have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC increased its holdings in Mesa Air Group by 17.8% in the fourth quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock valued at $333,000 after purchasing an additional 49,823 shares during the period. Virtu Financial LLC lifted its stake in Mesa Air Group by 207.3% in the first quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock valued at $65,000 after purchasing an additional 50,174 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Mesa Air Group by 69.9% during the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after acquiring an additional 13,700 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Mesa Air Group by 47.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after purchasing an additional 8,181 shares during the period. 13.34% of the stock is owned by institutional investors and hedge funds.

Mesa Air Group Trading Up 2.5 %

MESA traded up $0.03 during mid-day trading on Monday, hitting $1.21. The stock had a trading volume of 135,252 shares, compared to its average volume of 726,488. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.35. Mesa Air Group has a 1-year low of $0.40 and a 1-year high of $1.89. The stock’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.20. The firm has a market capitalization of $49.99 million, a price-to-earnings ratio of -0.40 and a beta of 3.10.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.