Mesa Air Group, Inc. (NASDAQ:MESA) Sees Significant Increase in Short Interest

Mesa Air Group, Inc. (NASDAQ:MESA) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 279,300 shares, a growth of 20.9% from the August 31st total of 231,100 shares. Based on an average daily volume of 220,500 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Mesa Air Group

A number of hedge funds have recently added to or reduced their stakes in MESA. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Mesa Air Group by 47.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after purchasing an additional 8,181 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Mesa Air Group by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after buying an additional 13,700 shares in the last quarter. Pinnacle Holdings LLC raised its position in Mesa Air Group by 17.8% in the 4th quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock worth $333,000 after buying an additional 49,823 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in Mesa Air Group by 207.3% during the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock valued at $65,000 after acquiring an additional 50,174 shares during the period. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Air Group Stock Up 2.5 %

NASDAQ:MESA traded up $0.03 on Monday, reaching $1.21. 135,252 shares of the stock traded hands, compared to its average volume of 726,469. The company’s fifty day simple moving average is $1.31 and its 200 day simple moving average is $1.20. The company has a market capitalization of $49.99 million, a price-to-earnings ratio of -0.40 and a beta of 3.10. Mesa Air Group has a 12 month low of $0.40 and a 12 month high of $1.89. The company has a current ratio of 0.50, a quick ratio of 0.35 and a debt-to-equity ratio of 1.93.

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.