Mesa Air Group (NASDAQ:RJET) Trading 16.3% Higher – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price shot up 16.3% during mid-day trading on Thursday . The company traded as high as $21.00 and last traded at $21.00. 30,343 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 136,963 shares. The stock had previously closed at $18.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Mesa Air Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Mesa Air Group Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $19.13 and its 200 day simple moving average is $19.04. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 23.10 and a beta of 1.61.

Mesa Air Group (NASDAQ:RJET) last issued its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter. The business had revenue of $571.10 million for the quarter. Mesa Air Group had a return on equity of 6.13% and a net margin of 3.29%.

Institutional Trading of Mesa Air Group

An institutional investor recently bought a new stake in Mesa Air Group stock. Par Capital Management Inc. acquired a new stake in Mesa Air Group, Inc. (NASDAQ:RJET) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned about 5.37% of Mesa Air Group as of its most recent filing with the Securities and Exchange Commission (SEC). 13.34% of the stock is currently owned by institutional investors.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.