Mesa Air Group (NASDAQ:MESA) Trading Up 4.4% – Here’s What Happened

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) rose 4.4% during trading on Tuesday . The company traded as high as $1.03 and last traded at $1.02. Approximately 333,818 shares were traded during trading, a decline of 48% from the average daily volume of 642,566 shares. The stock had previously closed at $0.98.

Mesa Air Group Stock Up 9.8 %

The company has a market cap of $46.27 million, a PE ratio of -0.49 and a beta of 3.12. The firm’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $1.24. The company has a quick ratio of 0.29, a current ratio of 0.45 and a debt-to-equity ratio of 2.13.

Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings results on Wednesday, October 16th. The company reported ($0.23) earnings per share for the quarter. Mesa Air Group had a negative return on equity of 32.45% and a negative net margin of 19.86%. The company had revenue of $110.79 million for the quarter.

Institutional Trading of Mesa Air Group

A number of hedge funds have recently modified their holdings of MESA. Virtu Financial LLC boosted its stake in Mesa Air Group by 207.3% during the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock worth $65,000 after acquiring an additional 50,174 shares during the last quarter. Renaissance Technologies LLC raised its stake in Mesa Air Group by 69.9% in the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after buying an additional 13,700 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in Mesa Air Group during the 3rd quarter valued at $36,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Mesa Air Group by 47.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after buying an additional 8,181 shares during the period. Institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.