Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Should You Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) shares saw an uptick in trading volume on Friday . 46,036 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 29,488 shares.The stock last traded at $20.10 and had previously closed at $20.60.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RJET shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mesa Air Group Price Performance

The firm has a 50-day moving average price of $21.03 and a two-hundred day moving average price of $18.68. The company has a market capitalization of $562.79 million, a price-to-earnings ratio of -3.33 and a beta of 1.69.

Institutional Trading of Mesa Air Group

A number of institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in Mesa Air Group during the 3rd quarter worth about $56,000. Orvieto Partners L.P. acquired a new stake in shares of Mesa Air Group in the second quarter valued at about $444,000. Par Capital Management Inc. bought a new stake in Mesa Air Group during the second quarter worth about $2,091,000. Finally, Pinnacle Holdings LLC boosted its position in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after purchasing an additional 392,878 shares during the last quarter. Institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.