Mesa Air Group (NASDAQ:MESA) Shares Down 9.2% – Here’s Why

Mesa Air Group, Inc. (NASDAQ:MESA)’s share price was down 9.2% on Wednesday . The stock traded as low as $1.04 and last traded at $1.09. Approximately 307,115 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 619,294 shares. The stock had previously closed at $1.20.

Mesa Air Group Trading Down 9.2 %

The business has a 50-day moving average of $0.99 and a 200-day moving average of $1.24. The stock has a market capitalization of $45.03 million, a price-to-earnings ratio of -0.47 and a beta of 3.14. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.29 and a current ratio of 0.45.

Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings data on Wednesday, October 16th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $110.79 million during the quarter. Mesa Air Group had a negative net margin of 19.86% and a negative return on equity of 32.45%.

Hedge Funds Weigh In On Mesa Air Group

Several institutional investors have recently added to or reduced their stakes in MESA. Regent Peak Wealth Advisors LLC acquired a new stake in Mesa Air Group during the 3rd quarter worth approximately $36,000. Vanguard Personalized Indexing Management LLC grew its position in 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 valued at $44,000 after buying an additional 8,181 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Mesa Air Group by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after buying an additional 13,700 shares during the period. Institutional investors and hedge funds own 13.34% of the company’s stock.

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.