JetBlue Airways (NASDAQ:JBLU) Shares Up 7.6% – Here’s What Happened

Shares of JetBlue Airways Co. (NASDAQ:JBLU) rose 7.6% during mid-day trading on Tuesday . The stock traded as high as $7.22 and last traded at $7.30. Approximately 4,076,866 shares traded hands during trading, a decline of 82% from the average daily volume of 23,176,410 shares. The stock had previously closed at $6.78.

Analysts Set New Price Targets

JBLU has been the subject of several research reports. Seaport Res Ptn cut JetBlue Airways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Barclays lifted their price objective on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group reissued a “sell” rating and issued a $5.50 price target on shares of JetBlue Airways in a report on Friday, November 15th. Finally, UBS Group cut their price target on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.51.

JetBlue Airways Stock Up 14.4 %

The firm has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $6.46. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market cap of $2.69 billion, a PE ratio of -3.31 and a beta of 1.83.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.29%. During the same period in the prior year, the business earned ($0.19) earnings per share. Equities research analysts predict that JetBlue Airways Co. will post -0.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Nik Mittal purchased 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently bought and sold shares of the stock. Bogart Wealth LLC raised its stake in JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of JetBlue Airways in the 3rd quarter valued at $28,000. Blue Trust Inc. raised its stake in shares of JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of JetBlue Airways in the 4th quarter valued at $40,000. Finally, R Squared Ltd purchased a new position in shares of JetBlue Airways in the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.