JetBlue Airways (NASDAQ:JBLU) Shares Gap Up – What’s Next?

JetBlue Airways Corporation (NASDAQ:JBLU) shares gapped up before the market opened on Monday . The stock had previously closed at $4.86, but opened at $5.10. JetBlue Airways shares last traded at $5.0250, with a volume of 4,864,413 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JBLU shares. UBS Group cut their price target on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Monday, March 16th. BMO Capital Markets started coverage on JetBlue Airways in a report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price target on the stock. TD Cowen raised JetBlue Airways from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. JPMorgan Chase & Co. lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Citigroup cut their price target on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating on the stock in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, JetBlue Airways has a consensus rating of “Reduce” and a consensus price target of $4.88.

JetBlue Airways Trading Up 4.1%

The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25. The stock’s 50 day moving average is $4.81 and its 200 day moving average is $4.86.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned ($0.59) EPS. JetBlue Airways’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that JetBlue Airways Corporation will post -2.57 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In related news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the transaction, the director owned 13,379 shares in the company, valued at $62,881.30. This trade represents a 72.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JBLU. AQR Capital Management LLC increased its stake in shares of JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock valued at $436,000 after acquiring an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in JetBlue Airways by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock worth $896,000 after buying an additional 8,053 shares during the last quarter. Goldman Sachs Group Inc. grew its position in JetBlue Airways by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock worth $23,085,000 after buying an additional 274,892 shares during the last quarter. United Services Automobile Association acquired a new position in JetBlue Airways in the first quarter worth approximately $106,000. Finally, Cetera Investment Advisers grew its position in JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock worth $130,000 after buying an additional 2,954 shares during 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.