JetBlue Airways (NASDAQ:JBLU) Stock Price Down 4.7% – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price was down 4.7% during trading on Wednesday . The company traded as low as $5.32 and last traded at $5.2020. Approximately 3,313,032 shares changed hands during trading, a decline of 86% from the average daily volume of 24,264,660 shares. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Wednesday, April 1st. UBS Group reduced their target price on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Monday, March 16th. TD Cowen upgraded JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Evercore lifted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Thursday, January 29th. Finally, Seaport Research Partners upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $4.88.

JetBlue Airways Trading Up 3.3%

The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74. The company’s 50-day moving average is $4.96 and its 200-day moving average is $4.85. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -3.14 and a beta of 1.75.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. On average, research analysts predict that JetBlue Airways Corporation will post -2.37 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently added to or reduced their stakes in JBLU. Goldman Sachs Group Inc. boosted its position in shares of JetBlue Airways by 85.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after purchasing an additional 5,591,470 shares in the last quarter. Par Capital Management Inc. grew its position in JetBlue Airways by 105.3% in the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after purchasing an additional 2,814,870 shares in the last quarter. U S Global Investors Inc. increased its position in shares of JetBlue Airways by 4.9% in the fourth quarter. U S Global Investors Inc. now owns 4,728,754 shares of the transportation company’s stock valued at $21,516,000 after acquiring an additional 219,622 shares during the last quarter. Invesco Ltd. increased its position in shares of JetBlue Airways by 10.1% during the 2nd quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock worth $19,091,000 after purchasing an additional 412,921 shares during the last quarter. Finally, Deutsche Bank AG raised its position in JetBlue Airways by 1,157.9% during the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock worth $15,270,000 after acquiring an additional 3,089,226 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.