Mesa Air Group (NASDAQ:RJET) Shares Gap Up – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) gapped up prior to trading on Thursday . The stock had previously closed at $17.12, but opened at $18.47. Mesa Air Group shares last traded at $17.79, with a volume of 9,473 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Mesa Air Group Price Performance

The company’s 50 day moving average price is $18.89 and its 200-day moving average price is $19.60. The company has a market capitalization of $856.05 million, a PE ratio of 19.45 and a beta of 1.58. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.67.

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

Institutional Trading of Mesa Air Group

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

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.