JetBlue Airways (NASDAQ:JBLU) Shares Down 8.6% – Here’s Why

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price was down 8.6% on Monday . The stock traded as low as $6.44 and last traded at $6.45. Approximately 3,505,858 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 15,694,236 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Susquehanna lifted their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $6.00 in a report on Monday, September 9th. Citigroup raised their target price on JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays lifted their target price on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $6.43.

JetBlue Airways Price Performance

The stock’s 50-day simple moving average is $6.49 and its two-hundred day simple moving average is $5.92. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -2.37 and a beta of 1.92. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98.

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, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted ($0.39) EPS. JetBlue Airways’s revenue was up .5% compared to the same quarter last year. Equities research analysts predict that JetBlue Airways Co. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JBLU. Allspring Global Investments Holdings LLC purchased a new stake in shares of JetBlue Airways during the first quarter worth $25,000. Trust Co. of Vermont purchased a new stake in JetBlue Airways during the 2nd quarter valued at about $27,000. Bogart Wealth LLC raised its holdings in JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in JetBlue Airways in the 3rd quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $34,000. 83.71% of the stock is 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.