Mesa Air Group (NASDAQ:RJET) Shares Gap Up – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $20.06, but opened at $20.84. Mesa Air Group shares last traded at $20.84, with a volume of 2,683 shares.

Analyst Ratings Changes

RJET has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mesa Air Group in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Mesa Air Group Stock Performance

The company has a 50 day moving average price of $21.04 and a two-hundred day moving average price of $18.67. The firm has a market capitalization of $575.28 million, a price-to-earnings ratio of -3.41 and a beta of 1.69.

Institutional Investors Weigh In On Mesa Air Group

Several large investors have recently bought and sold shares of RJET. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group during the 2nd quarter worth approximately $444,000. Par Capital Management Inc. purchased a new stake in Mesa Air Group in the 2nd quarter valued at $2,091,000. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group during the 3rd quarter worth $56,000. Finally, Pinnacle Holdings LLC grew its holdings in shares of Mesa Air Group by 31.8% in 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 period. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

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.