JetBlue Airways (NASDAQ:JBLU) Shares Gap Up – What’s Next?

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.55, but opened at $5.11. JetBlue Airways shares last traded at $5.0250, with a volume of 12,745,527 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JBLU. TD Cowen upgraded shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. UBS Group reduced their price target on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. Susquehanna upped their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group reduced their price target on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and an average price target of $4.88.

JetBlue Airways Trading Up 11.5%

The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 3.65. The firm has a market cap of $1.88 billion, a PE ratio of -3.04 and a beta of 1.75. The company’s 50-day moving average is $5.05 and its 200 day moving average is $4.82.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the company earned ($0.21) EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its position in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after buying an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after buying an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways in the 4th quarter worth approximately $30,000. Bogart Wealth LLC lifted its position in JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after buying an additional 7,000 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in JetBlue Airways in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.