Mesa Air Group (NASDAQ:MESA) Stock Price Down 6.3%

Mesa Air Group, Inc. (NASDAQ:MESA) traded down 6.3% on Friday . The company traded as low as $1.46 and last traded at $1.49. 369,160 shares were traded during trading, a decline of 62% from the average session volume of 981,769 shares. The stock had previously closed at $1.59.

Mesa Air Group Stock Down 6.3 %

The firm’s fifty day moving average is $1.24 and its two-hundred day moving average is $1.02. The firm has a market cap of $61.55 million, a price-to-earnings ratio of -0.50 and a beta of 3.17. 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 (NASDAQ:MESA) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.15 earnings per share for the quarter. The company had revenue of $131.58 million during the quarter. Mesa Air Group had a negative net margin of 25.47% and a negative return on equity of 38.10%.

Institutional Trading of Mesa Air Group

Several institutional investors have recently modified their holdings of MESA. SignalPoint Asset Management LLC lifted its position in shares of Mesa Air Group by 100.0% during the 4th quarter. SignalPoint Asset Management LLC now owns 49,796 shares of the company’s stock valued at $50,000 after acquiring an additional 24,898 shares during the last quarter. Pinnacle Holdings LLC increased its stake in Mesa Air Group by 17.8% in the 4th quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock worth $333,000 after purchasing an additional 49,823 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in Mesa Air Group by 207.3% during the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock worth $65,000 after buying an additional 50,174 shares during the period. Institutional investors and hedge funds own 13.34% of the company’s stock.

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.