Mesa Air Group (NASDAQ:RJET) Trading Up 10.3% – Time to Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) traded up 10.3% during trading on Wednesday . The company traded as high as $21.24 and last traded at $20.80. 111,979 shares changed hands during trading, a decline of 3% from the average session volume of 115,173 shares. The stock had previously closed at $18.86.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Mesa Air Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Mesa Air Group Price Performance

The company has a market cap of $963.29 million, a PE ratio of 21.88 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $19.04 and a 200-day simple moving average of $19.55.

Mesa Air Group (NASDAQ:RJET) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter. The business had revenue of $527.40 million for the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 6.13%.

Hedge Funds Weigh In On Mesa Air Group

A number of large investors have recently made changes to their positions in RJET. Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group during the 2nd quarter valued at $2,091,000. Pinnacle Holdings LLC grew its stake in Mesa Air Group by 31.8% during the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Mesa Air Group during the 3rd quarter valued at about $56,000. Finally, Geode Capital Management LLC acquired a new position in Mesa Air Group during the 4th quarter valued at about $442,000. 13.34% of the stock is owned by institutional investors and hedge funds.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.