JetBlue Airways (NASDAQ:JBLU) Trading Down 6.4% – What’s Next?

Shares of JetBlue Airways Co. (NASDAQ:JBLU) dropped 6.4% during trading on Wednesday . The company traded as low as $5.66 and last traded at $5.68. Approximately 18,885,904 shares changed hands during trading, an increase of 22% from the average daily volume of 15,508,019 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

JBLU has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $6.00 in a research note on Monday, September 9th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. TD Cowen upped their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Finally, Evercore ISI raised their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Trading Down 6.8 %

The firm’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $5.92. The firm has a market capitalization of $1.93 billion, a P/E ratio of -2.35 and a beta of 1.92. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Analysts anticipate that JetBlue Airways Co. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in the business. Maverick Capital Ltd. bought a new position in shares of JetBlue Airways in the 2nd quarter worth about $634,000. Jade Capital Advisors LLC boosted its position in shares of JetBlue Airways by 800.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock worth $2,952,000 after purchasing an additional 400,000 shares in the last quarter. BNP Paribas Financial Markets increased its position in JetBlue Airways by 21.1% during the 1st quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company’s stock valued at $3,611,000 after buying an additional 84,766 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in JetBlue Airways by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock valued at $2,159,000 after buying an additional 4,157 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in JetBlue Airways by 208.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 391,614 shares of the transportation company’s stock worth $2,851,000 after acquiring an additional 264,460 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

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.