JetBlue Airways (NASDAQ:JBLU) Stock Price Down 6.4% – Here’s Why

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price dropped 6.4% during trading on Monday . The company traded as low as $4.82 and last traded at $4.87. Approximately 3,586,085 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 17,211,800 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

Several analysts have commented on JBLU shares. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a research note on Wednesday, December 11th. Seaport Res Ptn cut shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Bank of America reiterated an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a research report on Friday, January 17th. Finally, UBS Group dropped their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.33.

JetBlue Airways Stock Down 0.8 %

The firm’s fifty day simple moving average is $6.28 and its 200 day simple moving average is $6.64. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -2.04 and a beta of 1.80. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period last year, the company earned ($0.19) EPS. Sell-side analysts predict that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Insider Activity at JetBlue Airways

In other news, Director Nik Mittal bought 100,000 shares of JetBlue Airways stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. The trade was a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Trading of JetBlue Airways

A number of institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in JetBlue Airways by 130.8% in the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in JetBlue Airways in the 4th quarter valued at about $40,000. Bogart Wealth LLC increased its stake in shares of JetBlue Airways by 67.8% during the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after purchasing an additional 2,850 shares in the last quarter. R Squared Ltd purchased a new position in JetBlue Airways during the fourth quarter worth $58,000. Finally, Glenmede Trust Co. NA purchased a new stake in JetBlue Airways during the 3rd quarter worth about $66,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.