JetBlue Airways (NASDAQ:JBLU) Trading Up 11.5% – Here’s What Happened

JetBlue Airways Corporation (NASDAQ:JBLU) was up 11.5% on Monday . The stock traded as high as $5.56 and last traded at $5.5850. Approximately 19,617,588 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 24,865,625 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JBLU shares. UBS Group lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research report on Tuesday, May 26th. Citigroup dropped their price target on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating for the company in a research note on Friday, March 20th. Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Susquehanna boosted their price target on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $4.93.

JetBlue Airways Price Performance

The firm has a fifty day moving average price of $4.99 and a two-hundred day moving average price of $4.98. The stock has a market capitalization of $2.00 billion, a P/E ratio of -2.78 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. JetBlue Airways’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.59) earnings per share. As a group, analysts expect that JetBlue Airways Corporation will post -2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director directly owned 13,379 shares of the company’s stock, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares in the company, valued at approximately $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its holdings in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of JetBlue Airways during the fourth quarter valued at approximately $30,000. Leonteq Securities AG purchased a new stake in shares of JetBlue Airways in the fourth quarter valued at approximately $32,000. Finally, Essential Partners LLC boosted its holdings in shares of JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 6,658 shares during the period. 83.71% of the stock is owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.