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

Shares of JetBlue Airways Co. (NASDAQ:JBLU) gapped down before the market opened on Tuesday . The stock had previously closed at $8.09, but opened at $6.98. JetBlue Airways shares last traded at $6.26, with a volume of 15,502,443 shares changing hands.

Analysts Set New Price Targets

JBLU has been the topic of several recent research reports. Citigroup increased their target price on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $5.50 target price on shares of JetBlue Airways in a report on Friday, November 15th. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Barclays increased their price target on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. Finally, UBS Group reissued a “sell” rating and set a $5.00 price target on shares of JetBlue Airways in a research report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.69.

JetBlue Airways Stock Performance

The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The company’s 50 day moving average is $7.15 and its 200-day moving average is $6.42. The company has a market capitalization of $2.00 billion, a P/E ratio of -2.31 and a beta of 1.84.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. During the same period last year, the business posted ($0.19) earnings per share. Equities analysts anticipate that JetBlue Airways Co. will post -0.81 EPS for the current fiscal year.

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently bought and sold shares of JBLU. XTX Topco Ltd bought a new stake in JetBlue Airways during the 2nd quarter valued at about $227,000. Creative Planning boosted its holdings in shares of JetBlue Airways by 46.9% in the second quarter. Creative Planning now owns 84,062 shares of the transportation company’s stock worth $512,000 after buying an additional 26,834 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of JetBlue Airways by 11.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 62,331 shares of the transportation company’s stock worth $380,000 after buying an additional 6,179 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of JetBlue Airways by 715.3% in the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after buying an additional 1,430,622 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in JetBlue Airways during the second quarter valued at approximately $34,000. 83.71% of the stock is currently owned by institutional investors.

JetBlue Airways Company Profile

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.