JetBlue Airways (NASDAQ:JBLU) Trading 7.4% Higher – What’s Next?

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) shot up 7.4% during trading on Friday . The stock traded as high as $5.27 and last traded at $5.3610. 9,744,177 shares traded hands during trading, a decline of 62% from the average daily volume of 25,731,662 shares. The stock had previously closed at $4.99.

Analyst Ratings Changes

JBLU has been the topic of several research reports. Raymond James Financial reiterated an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Bank of America lifted their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group boosted their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, JetBlue Airways currently has a consensus rating of “Reduce” and a consensus target price of $5.31.

JetBlue Airways Price Performance

The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market capitalization of $1.98 billion, a P/E ratio of -2.74 and a beta of 1.73. The stock’s fifty day moving average is $5.33 and its 200-day moving average is $5.16.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.JetBlue Airways’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.59) EPS. On average, equities analysts anticipate that JetBlue Airways Corporation will post -2.39 earnings per share for the current year.

Insider Buying and Selling

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the sale, the director owned 13,379 shares of the company’s stock, valued at $62,881.30. This represents a 72.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vivek Sharma sold 32,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JBLU. EverSource Wealth Advisors LLC grew its position in shares of JetBlue Airways by 162.2% in the second quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 4,768 shares during the last quarter. Oak Thistle LLC bought a new position in shares of JetBlue Airways in the second quarter worth about $133,000. Merit Financial Group LLC lifted its position in shares of JetBlue Airways by 78.6% during the 2nd quarter. Merit Financial Group LLC now owns 47,668 shares of the transportation company’s stock worth $273,000 after purchasing an additional 20,985 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of JetBlue Airways during the 2nd quarter worth about $6,890,000. Finally, GAMMA Investing LLC boosted its stake in JetBlue Airways by 131.1% during the 2nd quarter. GAMMA Investing LLC now owns 12,304 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 6,980 shares during the period. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.