Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Should You Buy?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) saw strong trading volume on Friday . 49,663 shares traded hands during mid-day trading, an increase of 75% from the previous session’s volume of 28,453 shares.The stock last traded at $21.11 and had previously closed at $20.81.

Analysts Set New Price Targets

Several brokerages recently commented on RJET. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mesa Air Group presently has an average rating of “Sell”.

Mesa Air Group Trading Up 3.4%

The business has a 50-day moving average of $21.12 and a 200 day moving average of $18.49. The firm has a market capitalization of $600.69 million, a P/E ratio of -3.56 and a beta of 1.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Orvieto Partners L.P. bought a new stake in shares of Mesa Air Group during the second quarter worth about $444,000. Pinnacle Holdings LLC lifted its position in Mesa Air Group by 31.8% in the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after acquiring an additional 392,878 shares in the last quarter. Par Capital Management Inc. acquired a new position in Mesa Air Group during the 2nd quarter valued at about $2,091,000. Finally, GSA Capital Partners LLP acquired a new position in Mesa Air Group during the 3rd quarter valued at about $56,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

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.