Mesa Air Group (NASDAQ:MESA) Trading 3.1% Higher – Time to Buy?

Mesa Air Group, Inc. (NASDAQ:MESA)’s stock price rose 3.1% during trading on Thursday . The company traded as high as $1.35 and last traded at $1.35. Approximately 276,907 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 437,921 shares. The stock had previously closed at $1.31.

Mesa Air Group Stock Performance

The company has a quick ratio of 0.29, a current ratio of 0.45 and a debt-to-equity ratio of 2.13. The stock has a market cap of $55.77 million, a P/E ratio of -0.59 and a beta of 3.08. The firm’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.22.

Mesa Air Group (NASDAQ:MESA) last released its quarterly earnings data on Wednesday, October 16th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MESA. Regent Peak Wealth Advisors LLC acquired a new position in Mesa Air Group during the 3rd quarter worth $36,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Mesa Air Group by 47.1% in the second 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 during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Mesa Air Group by 69.9% during the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after purchasing an additional 13,700 shares during the last quarter. 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.