Mesa Air Group (NASDAQ:RJET) Shares Down 7.5% – Should You Sell?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price fell 7.5% during trading on Tuesday . The company traded as low as $20.34 and last traded at $20.34. 52,672 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 111,198 shares. The stock had previously closed at $21.99.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Mesa Air Group Stock Performance

The firm has a market cap of $848.54 million, a P/E ratio of -10.24 and a beta of 1.73. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $19.02 and its 200-day simple moving average is $19.71.

Mesa Air Group (NASDAQ:RJET) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $464.10 million for the quarter. Mesa Air Group had a negative net margin of 6.32% and a positive return on equity of 4.28%.

Institutional Investors Weigh In On Mesa Air Group

A number of large investors have recently added to or reduced their stakes in the company. Par Capital Management Inc. bought a new stake in Mesa Air Group in the 2nd quarter worth $2,091,000. Pinnacle Holdings LLC grew its holdings in Mesa Air Group by 31.8% in the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after acquiring an additional 392,878 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Mesa Air Group in the 3rd quarter worth $56,000. Finally, Geode Capital Management LLC bought a new stake in shares of Mesa Air Group during the 4th quarter valued at about $442,000. 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.