Mesa Air Group (NASDAQ:MESA) Shares Down 6.5% – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) traded down 6.5% during trading on Friday . The company traded as low as $1.15 and last traded at $1.15. 124,447 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 247,487 shares. The stock had previously closed at $1.23.

Mesa Air Group Stock Performance

The stock’s 50 day moving average is $1.24 and its two-hundred day moving average is $1.15. The firm has a market capitalization of $47.51 million, a P/E ratio of -0.50 and a beta of 3.09. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in Mesa Air Group in the fourth quarter valued at about $117,000. Millennium Management LLC acquired a new position in shares of Mesa Air Group during the 4th quarter worth about $25,000. Pinnacle Holdings LLC increased its stake in shares of Mesa Air Group by 10.8% in the 4th quarter. Pinnacle Holdings LLC now owns 757,125 shares of the company’s stock valued at $878,000 after acquiring an additional 73,736 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mesa Air Group in the 4th quarter valued at approximately $44,000. Finally, Renaissance Technologies LLC boosted its stake in Mesa Air Group by 50.4% during the 4th quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock worth $96,000 after acquiring an additional 27,614 shares during the last quarter. Institutional investors and hedge funds own 13.34% of the company’s stock.

Mesa Air Group Company Profile

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.