Mesa Air Group (NASDAQ:RJET) Stock Price Down 3.3% – Should You Sell?

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price traded down 3.3% during trading on Tuesday . The company traded as low as $18.53 and last traded at $18.54. 30,981 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 29,838 shares. The stock had previously closed at $19.17.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RJET shares. Weiss Ratings restated a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Mesa Air Group has a consensus rating of “Sell”.

Mesa Air Group Trading Down 3.0%

The stock has a market capitalization of $519.22 million, a price-to-earnings ratio of -3.08 and a beta of 1.60. The firm has a 50-day moving average of $20.96 and a 200 day moving average of $18.79.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Mesa Air Group during the 3rd quarter valued at $56,000. Orvieto Partners L.P. bought a new position in Mesa Air Group in the second quarter valued at $444,000. Par Capital Management Inc. bought a new stake in Mesa Air Group in the 2nd quarter valued at $2,091,000. Finally, Pinnacle Holdings LLC increased its position in Mesa Air Group by 31.8% during the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the period. 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.