Mesa Air Group (NASDAQ:RJET) Shares Gap Down – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) gapped down prior to trading on Thursday . The stock had previously closed at $19.94, but opened at $19.30. Mesa Air Group shares last traded at $20.09, with a volume of 3,671 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RJET. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Mesa Air Group Stock Performance

The firm has a market capitalization of $547.71 million, a PE ratio of -3.24 and a beta of 1.69. The stock has a fifty day moving average price of $21.12 and a 200-day moving average price of $18.48.

Institutional Trading of Mesa Air Group

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Mesa Air Group in the 3rd quarter valued at about $56,000. Orvieto Partners L.P. purchased a new stake in Mesa Air Group during the second quarter valued at approximately $444,000. Par Capital Management Inc. acquired a new stake in Mesa Air Group in the second quarter valued at approximately $2,091,000. Finally, Pinnacle Holdings LLC boosted its stake in Mesa Air Group by 31.8% in the third 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. 13.34% of the stock is owned by hedge funds and other institutional investors.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.