JetBlue Airways Co. (NASDAQ:JBLU) Short Interest Up 26.7% in March

JetBlue Airways Co. (NASDAQ:JBLU) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 66,720,000 shares, an increase of 26.7% from the February 28th total of 52,650,000 shares. Based on an average daily volume of 22,160,000 shares, the short-interest ratio is presently 3.0 days. Currently, 22.3% of the shares of the company are short sold.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $5.04 on Thursday. The business’s 50-day moving average price is $6.23 and its 200-day moving average price is $6.63. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2.15 and a beta of 1.80. JetBlue Airways has a 12 month low of $4.44 and a 12 month high of $8.31. 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 earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter last year, the company posted ($0.19) earnings per share. Equities research analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, Director Nik Mittal bought 100,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the transaction, the director now owns 116,443 shares in the company, valued at $714,960.02. The trade was a 608.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 41,833 shares in the company, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of JetBlue Airways during the 4th quarter worth approximately $40,000. Bogart Wealth LLC increased its stake in shares of JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 2,850 shares in the last quarter. R Squared Ltd bought a new position in JetBlue Airways during the fourth quarter worth $58,000. Finally, Glenmede Trust Co. NA bought a new position in JetBlue Airways during the third quarter worth $66,000. 83.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group cut their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $8.00 target price on shares of JetBlue Airways in a research note on Wednesday, December 11th. Bank of America reiterated an “underperform” rating and issued a $6.50 price target on shares of JetBlue Airways in a research note on Friday, January 17th. Seaport Res Ptn downgraded JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Susquehanna decreased their target price on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, JetBlue Airways presently has an average rating of “Hold” and an average target price of $6.33.

About JetBlue Airways

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.