JetBlue Airways (NASDAQ:JBLU) Shares Down 9.2% – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price was down 9.2% during trading on Tuesday . The company traded as low as $5.87 and last traded at $5.87. Approximately 5,540,030 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 16,305,080 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

JBLU has been the topic of a number of analyst reports. StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Susquehanna lowered their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Bank of America reaffirmed an “underperform” rating and issued a $6.50 price target on shares of JetBlue Airways in a report on Friday, January 17th. Morgan Stanley restated an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.33.

JetBlue Airways Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The firm’s fifty day moving average price is $7.18 and its 200 day moving average price is $6.57. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -2.59 and a beta of 1.83.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ursula L. Hurley sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the sale, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nik Mittal bought 100,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now owns 116,443 shares in the company, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of JBLU. Creative Planning boosted its stake in JetBlue Airways by 14.1% during the 3rd quarter. Creative Planning now owns 95,947 shares of the transportation company’s stock worth $629,000 after purchasing an additional 11,885 shares during the period. International Assets Investment Management LLC lifted its position in JetBlue Airways by 397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 82,623 shares of the transportation company’s stock worth $542,000 after acquiring an additional 66,028 shares during the period. Jeppson Wealth Management LLC grew its stake in shares of JetBlue Airways by 15.7% in the 3rd quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,850 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of JetBlue Airways by 11.3% in the third quarter. Victory Capital Management Inc. now owns 153,582 shares of the transportation company’s stock valued at $1,007,000 after purchasing an additional 15,641 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of JetBlue Airways during the third quarter worth $794,000. 83.71% of the stock is owned by institutional investors and hedge funds.

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.