Mesa Air Group (NASDAQ:MESA) Stock Price Up 3.1% – Here’s Why

Mesa Air Group, Inc. (NASDAQ:MESA)’s share price traded up 3.1% on Thursday . The stock traded as high as $1.35 and last traded at $1.35. 276,907 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 437,921 shares. The stock had previously closed at $1.31.

Mesa Air Group Price Performance

The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29. The company’s 50-day moving average price is $1.07 and its 200-day moving average price is $1.22. The company has a market cap of $56.19 million, a P/E ratio of -0.59 and a beta of 3.08.

Mesa Air Group (NASDAQ:MESA) last announced its earnings results on Wednesday, October 16th. The company reported ($0.23) earnings per share for the quarter. Mesa Air Group had a negative return on equity of 32.45% and a negative net margin of 19.86%. The company had revenue of $110.79 million during the quarter.

Hedge Funds Weigh In On Mesa Air Group

Several hedge funds have recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC bought a new stake in shares of Mesa Air Group in the third quarter worth $36,000. Renaissance Technologies LLC increased its stake in Mesa Air Group by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after buying an additional 13,700 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Mesa Air Group by 47.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock valued at $44,000 after buying an additional 8,181 shares during the last quarter. 13.34% of the stock is owned by institutional investors.

Mesa Air Group Company Profile

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.