JetBlue Airways (NASDAQ:JBLU) Stock Price Down 4.4% – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU) shares fell 4.4% on Monday . The company traded as low as $6.34 and last traded at $6.38. 3,676,452 shares changed hands during trading, a decline of 85% from the average session volume of 24,436,340 shares. The stock had previously closed at $6.67.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JBLU. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Bank of America reiterated an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a research report on Friday, January 17th. Susquehanna dropped their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Barclays lifted their price objective 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. Finally, Citigroup lifted their price objective 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. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.51.

JetBlue Airways Stock Performance

The firm’s 50-day moving average is $7.24 and its 200 day moving average is $6.45. The stock has a market cap of $2.29 billion, a PE ratio of -2.82 and a beta of 1.83. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.29%. During the same period in the prior year, the business posted ($0.19) earnings per share. As a group, research analysts anticipate that JetBlue Airways Co. will post -0.58 EPS for the current year.

Insider Activity at JetBlue Airways

In other news, Director Nik Mittal acquired 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the transaction, the director now owns 116,443 shares in the company, valued at $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently bought and sold shares of the company. Maverick Capital Ltd. grew its stake in shares of JetBlue Airways by 136.1% during the 3rd quarter. Maverick Capital Ltd. now owns 245,657 shares of the transportation company’s stock worth $1,612,000 after purchasing an additional 141,605 shares during the period. Quantbot Technologies LP grew its stake in JetBlue Airways by 56.7% in the 3rd quarter. Quantbot Technologies LP now owns 922,925 shares of the transportation company’s stock valued at $6,054,000 after acquiring an additional 334,032 shares during the last quarter. Jade Capital Advisors LLC grew its stake in JetBlue Airways by 800.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after acquiring an additional 400,000 shares during the last quarter. Empowered Funds LLC grew its stake in JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after acquiring an additional 107,293 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in JetBlue Airways by 13.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after acquiring an additional 663,865 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.