Mesa Air Group (NASDAQ:RJET) Sees Unusually-High Trading Volume – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) saw unusually-high trading volume on Tuesday . Approximately 95,728 shares changed hands during trading, a decline of 18% from the previous session’s volume of 116,787 shares.The stock last traded at $25.40 and had previously closed at $23.57.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Mesa Air Group Trading Down 3.3%

The company’s 50-day moving average price is $19.60 and its 200-day moving average price is $19.67. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 24.93 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.

Mesa Air Group (NASDAQ:RJET) last announced its earnings results 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 business had revenue of $527.40 million for the quarter.

Hedge Funds Weigh In On Mesa Air Group

A number of institutional investors and hedge funds have recently bought and sold shares of RJET. Par Capital Management Inc. acquired a new position in Mesa Air Group during the second quarter worth about $2,091,000. GSA Capital Partners LLP acquired a new position in Mesa Air Group during the third quarter worth about $56,000. Pinnacle Holdings LLC boosted its position in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after acquiring an additional 392,878 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in Mesa Air Group during the fourth quarter worth about $442,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

Mesa Air Group Company Profile

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.