Hawaiian (NASDAQ:HA) Shares Gap Down Following Weak Earnings

Hawaiian Holdings, Inc. (NASDAQ:HA)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $12.90, but opened at $12.48. Hawaiian shares last traded at $12.53, with a volume of 272,039 shares trading hands.

The transportation company reported ($2.77) earnings per share for the quarter, missing the consensus estimate of ($2.75) by ($0.02). Hawaiian had a negative net margin of 10.90% and a negative return on equity of 207.99%. The company had revenue of $645.57 million during the quarter, compared to the consensus estimate of $629.24 million. During the same period in the previous year, the company earned ($2.17) earnings per share. Hawaiian’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Susquehanna lowered their price target on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Institutional Investors Weigh In On Hawaiian

A number of hedge funds have recently made changes to their positions in HA. Byrne Asset Management LLC bought a new position in Hawaiian in the 1st quarter valued at approximately $28,000. PenderFund Capital Management Ltd. bought a new position in Hawaiian in the 4th quarter valued at approximately $37,000. Wetzel Investment Advisors Inc. raised its holdings in Hawaiian by 31.6% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 12,500 shares of the transportation company’s stock valued at $162,000 after buying an additional 3,000 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Hawaiian by 210.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock valued at $78,000 after buying an additional 3,719 shares during the last quarter. Finally, CWM LLC raised its holdings in Hawaiian by 97.2% in the 4th quarter. CWM LLC now owns 7,984 shares of the transportation company’s stock valued at $113,000 after buying an additional 3,936 shares during the last quarter. 70.15% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Trading Down 2.4 %

The business’s fifty day moving average is $13.54 and its 200-day moving average is $11.18. The firm has a market cap of $628.42 million, a P/E ratio of -2.10 and a beta of 2.39. The company has a debt-to-equity ratio of 16.74, a quick ratio of 1.02 and a current ratio of 1.02.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.