Mesa Air Group, Inc. (NASDAQ:RJET) Sees Significant Increase in Short Interest

Mesa Air Group, Inc. (NASDAQ:RJET) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 751,191 shares, an increase of 86.0% from the June 15th total of 403,927 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 291,756 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Mesa Air Group stock. Par Capital Management Inc. bought a new stake in shares of Mesa Air Group, Inc. (NASDAQ:RJET) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned approximately 5.37% of Mesa Air Group at the end of the most recent quarter. 13.34% of the stock is owned by hedge funds and other institutional investors.

Mesa Air Group Trading Down 5.5%

NASDAQ:RJET traded down $1.01 during mid-day trading on Friday, reaching $17.21. 67,523 shares of the company’s stock traded hands, compared to its average volume of 180,926. The company has a 50 day moving average price of $19.71 and a 200-day moving average price of $19.13. The firm has a market capitalization of $805.94 million, a price-to-earnings ratio of 18.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.75. Mesa Air Group has a 12-month low of $15.36 and a 12-month high of $26.70.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter. Mesa Air Group had a return on equity of 6.13% and a net margin of 3.29%.The firm had revenue of $527.40 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Mesa Air Group

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.