JetBlue Airways (NASDAQ:JBLU) Shares Down 8% – Here’s Why

JetBlue Airways Corporation (NASDAQ:JBLU) traded down 8% on Thursday . The company traded as low as $5.96 and last traded at $5.9450. 3,073,575 shares changed hands during trading, a decline of 85% from the average session volume of 20,303,922 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JBLU shares. Susquehanna boosted their price objective on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. JPMorgan Chase & Co. upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Evercore raised their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Thursday, January 29th. Morgan Stanley reduced their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, December 8th. Finally, Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 target price for the company in a research report on Tuesday, February 3rd. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and an average target price of $5.27.

JetBlue Airways Price Performance

The firm has a market cap of $2.21 billion, a P/E ratio of -3.57 and a beta of 1.78. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65. The business’s 50 day moving average is $5.23 and its two-hundred day moving average is $4.91.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate 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 was down 1.4% compared to the same quarter last year. During the same period last year, the company posted ($0.21) EPS. As a group, analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Institutional Trading of JetBlue Airways

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in 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 worth $29,000 after acquiring an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in JetBlue Airways in the 4th quarter valued at about $30,000. Bogart Wealth LLC raised its stake in JetBlue Airways by 12,727.3% during the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after buying an additional 7,000 shares during the period. Leonteq Securities AG bought a new position in JetBlue Airways in the fourth quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in JetBlue Airways in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.