Mesa Air Group (NASDAQ:RJET) Trading Up 16.3% – Time to Buy?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price rose 16.3% on Thursday . The stock traded as high as $21.00 and last traded at $21.00. Approximately 30,343 shares were traded during trading, a decline of 78% from the average session volume of 136,963 shares. The stock had previously closed at $18.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Mesa Air Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Mesa Air Group Price Performance

The company’s 50-day simple moving average is $19.06 and its 200-day simple moving average is $19.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.03 and a quick ratio of 0.75. The stock has a market capitalization of $967.04 million, a price-to-earnings ratio of 23.74 and a beta of 1.61.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter. Mesa Air Group had a return on equity of 7.07% and a net margin of 2.96%.The company had revenue of $571.10 million during the quarter.

Institutional Trading of Mesa Air Group

A hedge fund recently bought a new stake in Mesa Air Group stock. Geode Capital Management LLC acquired a new position in shares of Mesa Air Group, Inc. (NASDAQ:RJET) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 24,061 shares of the company’s stock, valued at approximately $442,000. Geode Capital Management LLC owned 0.09% of Mesa Air Group at the end of the most recent reporting period. Institutional investors own 13.34% of the company’s stock.

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.