Mesa Air Group (NASDAQ:MESA) Trading Up 4.4% – Here’s What Happened

Mesa Air Group, Inc. (NASDAQ:MESA) was up 4.4% during mid-day trading on Tuesday . The company traded as high as $1.03 and last traded at $1.02. Approximately 333,818 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 642,566 shares. The stock had previously closed at $0.98.

Mesa Air Group Stock Up 9.8 %

The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29. The stock has a fifty day moving average of $1.02 and a two-hundred day moving average of $1.24. The firm has a market capitalization of $46.27 million, a price-to-earnings ratio of -0.49 and a beta of 3.12.

Mesa Air Group (NASDAQ:MESA) last issued its quarterly earnings results on Wednesday, October 16th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $110.79 million for 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 hedge funds have recently modified their holdings of the stock. Virtu Financial LLC lifted its holdings in shares of Mesa Air Group by 207.3% in the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock valued at $65,000 after acquiring an additional 50,174 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Mesa Air Group by 69.9% during the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after acquiring an additional 13,700 shares during the period. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Mesa Air Group in the 3rd quarter worth approximately $36,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in 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 valued at $44,000 after purchasing an additional 8,181 shares during the last quarter. Hedge funds and other institutional investors 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.