JetBlue Airways Co. (NASDAQ:JBLU) Sees Significant Decrease in Short Interest

JetBlue Airways Co. (NASDAQ:JBLU) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 62,580,000 shares, a decrease of 9.4% from the August 31st total of 69,080,000 shares. Currently, 20.2% of the company’s stock are sold short. Based on an average daily volume of 16,000,000 shares, the short-interest ratio is presently 3.9 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC increased its stake in shares of JetBlue Airways by 10.3% in the fourth quarter. Corient Private Wealth LLC now owns 84,818 shares of the transportation company’s stock worth $471,000 after acquiring an additional 7,891 shares during the period. Allianz Asset Management GmbH increased its stake in shares of JetBlue Airways by 70.2% in the fourth quarter. Allianz Asset Management GmbH now owns 2,366,548 shares of the transportation company’s stock worth $13,134,000 after acquiring an additional 975,736 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $139,000. Belpointe Asset Management LLC increased its stake in shares of JetBlue Airways by 18.2% in the fourth quarter. Belpointe Asset Management LLC now owns 24,196 shares of the transportation company’s stock worth $134,000 after acquiring an additional 3,730 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $352,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JBLU shares. Citigroup upped their price target on shares of JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. TD Cowen increased their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Finally, Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their target price for the company from $3.00 to $6.00 in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average target price of $6.00.

JetBlue Airways Stock Performance

JetBlue Airways stock traded down $0.01 during mid-day trading on Friday, reaching $6.42. 14,060,457 shares of the company traded hands, compared to its average volume of 15,337,767. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $7.58. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -2.60 and a beta of 1.90. The firm’s fifty day moving average is $5.50 and its two-hundred day moving average is $5.94.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted $0.45 EPS. JetBlue Airways’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts expect that JetBlue Airways will post -1 earnings per share for the current fiscal year.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.