JetBlue Airways (NASDAQ:JBLU) Sets New 52-Week Low – Should You Sell?

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $4.44 and last traded at $4.63, with a volume of 10755925 shares traded. The stock had previously closed at $4.82.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Susquehanna decreased their price target on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Bank of America reissued an “underperform” rating and set a $6.50 price objective on shares of JetBlue Airways in a report on Friday, January 17th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, JetBlue Airways has an average rating of “Hold” and an average target price of $6.33.

JetBlue Airways Trading Up 5.4 %

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -2.15 and a beta of 1.80. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The business’s fifty day moving average is $6.23 and its two-hundred day moving average is $6.63.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted ($0.19) EPS. Equities analysts anticipate that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at JetBlue Airways

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

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently made changes to their positions in JBLU. FMR LLC raised its stake in JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company’s stock valued at $130,470,000 after buying an additional 16,486,326 shares during the period. Renaissance Technologies LLC grew its stake in shares of JetBlue Airways by 491.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company’s stock valued at $33,597,000 after acquiring an additional 3,552,057 shares in the last quarter. Nomura Holdings Inc. raised its stake in JetBlue Airways by 3,729.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company’s stock worth $27,009,000 after purchasing an additional 3,346,482 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in JetBlue Airways by 88.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after purchasing an additional 2,584,350 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of JetBlue Airways by 60.8% during the 4th quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company’s stock worth $40,897,000 after purchasing an additional 1,968,343 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.