JetBlue Airways (NASDAQ:JBLU) Shares Down 9.2% – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price traded down 9.2% on Tuesday . The company traded as low as $5.87 and last traded at $5.87. 5,540,030 shares changed hands during trading, a decline of 66% from the average session volume of 16,305,080 shares. The stock had previously closed at $6.46.

Analysts Set New Price Targets

Several research firms recently weighed in on JBLU. Susquehanna dropped their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. UBS Group decreased their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. Citigroup boosted their price objective on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $5.50 target price on shares of JetBlue Airways in a report on Friday, November 15th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.33.

JetBlue Airways Trading Down 5.8 %

The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The firm has a 50-day moving average price of $7.18 and a 200 day moving average price of $6.57. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -2.59 and a beta of 1.83.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, sell-side analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares of the company’s stock, valued at $313,747.50. The trade was a 26.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nik Mittal bought 100,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new position in JetBlue Airways in the 3rd quarter valued at $28,000. Blue Trust Inc. increased its holdings in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after buying an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of JetBlue Airways during the 4th quarter valued at about $40,000. Bogart Wealth LLC increased its stake in JetBlue Airways by 67.8% in the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 2,850 shares during the period. Finally, R Squared Ltd bought a new position in JetBlue Airways during the fourth quarter worth about $58,000. 83.71% of the stock is currently owned by institutional investors.

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.