Mesa Air Group (NASDAQ:MESA) Issues Earnings Results

Mesa Air Group (NASDAQ:MESA) announced its quarterly earnings results on Friday. The company reported ($0.05) EPS for the quarter, Zacks reports. Mesa Air Group had a negative net margin of 43.65% and a negative return on equity of 1,171.23%.

Mesa Air Group Stock Down 6.3%

Shares of MESA stock traded down $0.10 during trading hours on Friday, reaching $1.42. 117,132 shares of the company’s stock were exchanged, compared to its average volume of 425,722. Mesa Air Group has a fifty-two week low of $0.68 and a fifty-two week high of $1.72. The business has a fifty day moving average price of $1.42 and a 200-day moving average price of $1.19. The stock has a market capitalization of $59.26 million, a P/E ratio of -0.33 and a beta of 3.09.

Institutional Trading of Mesa Air Group

An institutional investor recently bought a new position in Mesa Air Group stock. Par Capital Management Inc. acquired a new stake in shares of Mesa Air Group, Inc. (NASDAQ:MESA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned about 5.37% of Mesa Air Group as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 13.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mesa Air Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.