JetBlue Airways (NASDAQ:JBLU) Shares Down 3.9%

JetBlue Airways Co. (NASDAQ:JBLU) dropped 3.9% on Friday . The stock traded as low as $4.14 and last traded at $4.17. Approximately 11,166,914 shares traded hands during trading, a decline of 12% from the average daily volume of 12,653,558 shares. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

JBLU has been the topic of several recent research reports. BNP Paribas downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a report on Friday, November 10th. StockNews.com started coverage on JetBlue Airways in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. dropped their price objective on JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 2nd. Citigroup decreased their price target on shares of JetBlue Airways from $7.50 to $5.75 and set a “neutral” rating on the stock in a report on Monday, October 9th. Finally, Susquehanna decreased their price target on shares of JetBlue Airways from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.03.

JetBlue Airways Trading Down 3.5 %

The firm has a market cap of $1.40 billion, a P/E ratio of -7.48 and a beta of 1.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.53 and a quick ratio of 0.50. The stock has a 50 day moving average of $4.45 and a 200 day moving average of $6.30.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, October 31st. The transportation company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.14). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.38 billion. JetBlue Airways had a negative net margin of 1.89% and a negative return on equity of 0.46%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. As a group, equities research analysts predict that JetBlue Airways Co. will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new position in shares of JetBlue Airways during the second quarter valued at about $33,000. Quarry LP bought a new position in shares of JetBlue Airways during the first quarter valued at about $32,000. Compass Wealth Management LLC bought a new position in shares of JetBlue Airways during the fourth quarter valued at about $35,000. Performa Ltd US LLC grew its stake in shares of JetBlue Airways by 96.6% during the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after buying an additional 2,800 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of JetBlue Airways by 72.8% during the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock valued at $30,000 after buying an additional 2,751 shares during the last quarter. 74.82% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.