Mesa Air Group (NASDAQ:RJET) Sets New 1-Year High – Should You Buy?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $23.72 and last traded at $21.99, with a volume of 19576 shares. The stock had previously closed at $21.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Mesa Air Group Price Performance

The company has a market capitalization of $804.10 million, a PE ratio of -4.48 and a beta of 3.09. The stock’s 50 day simple moving average is $1.42 and its 200-day simple moving average is $1.20.

Mesa Air Group (NASDAQ:RJET) last announced its quarterly earnings data on Friday, November 21st. The company reported ($0.75) earnings per share for the quarter. Mesa Air Group had a negative net margin of 43.65% and a negative return on equity of 1,171.23%. The business had revenue of $90.68 million during the quarter.

Institutional Trading of Mesa Air Group

A number of large investors have recently modified their holdings of RJET. Pinnacle Holdings LLC boosted its holdings in Mesa Air Group by 8.4% in the first quarter. Pinnacle Holdings LLC now owns 820,953 shares of the company’s stock valued at $643,000 after purchasing an additional 63,828 shares during the period. Orvieto Partners L.P. purchased a new stake in Mesa Air Group during the 2nd quarter worth about $444,000. Par Capital Management Inc. acquired a new stake in Mesa Air Group in the 2nd quarter valued at about $2,091,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 13.34% of the company’s stock.

About Mesa Air Group

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.