JetBlue Airways Sees Unusually Large Options Volume (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the target of some unusual options trading on Friday. Traders acquired 85,847 call options on the company. This represents an increase of 536% compared to the typical volume of 13,502 call options.

JetBlue Airways Stock Performance

Shares of JBLU opened at $8.05 on Friday. JetBlue Airways has a one year low of $3.42 and a one year high of $8.07. The company has a market cap of $2.74 billion, a PE ratio of -3.26 and a beta of 1.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The stock has a 50-day moving average of $5.81 and a 200-day moving average of $5.93.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.40 billion. During the same quarter last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that JetBlue Airways will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Several large investors have recently added to or reduced their stakes in JBLU. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways during the 1st quarter worth approximately $25,000. GAMMA Investing LLC lifted its position in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after buying an additional 2,377 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $34,000. Finally, Point72 DIFC Ltd bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $48,000. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

JBLU has been the subject of a number of recent research reports. Citigroup increased their price objective on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Susquehanna increased their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Friday, October 11th. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.80.

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.