JetBlue Airways (NASDAQ:JBLU) Stock Price Up 8.2%

JetBlue Airways Co. (NASDAQ:JBLU)’s share price traded up 8.2% during mid-day trading on Thursday . The company traded as high as $6.48 and last traded at $6.47. 6,379,191 shares traded hands during trading, a decline of 58% from the average session volume of 15,270,803 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. 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. TD Cowen lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup raised their price objective on JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

JetBlue Airways Price Performance

The business’s 50-day moving average price is $5.49 and its two-hundred day moving average price is $5.95. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -2.58 and a beta of 1.90. 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 (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, research analysts forecast that JetBlue Airways Co. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in shares of JetBlue Airways in the second quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of JetBlue Airways by 218.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,109 shares of the transportation company’s stock worth $141,000 after buying an additional 15,862 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth $34,000. Point72 Asset Management L.P. lifted its position in shares of JetBlue Airways by 715.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after buying an additional 1,430,622 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of JetBlue Airways by 11.0% during the second quarter. B. Riley Wealth Advisors Inc. now owns 62,331 shares of the transportation company’s stock worth $380,000 after acquiring an additional 6,179 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

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.