JetBlue Airways Corporation (NASDAQ:JBLU – Get Free Report)’s stock price was down 7.3% on Thursday . The stock traded as low as $4.84 and last traded at $4.7850. 15,615,815 shares changed hands during trading, a decline of 39% from the average daily volume of 25,704,008 shares. The stock had previously closed at $5.16.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Seaport Research Partners upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Thursday, April 16th. The Goldman Sachs Group raised their price objective on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a report on Thursday, July 2nd. Citigroup boosted their target price on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.31.
Check Out Our Latest Analysis on JetBlue Airways
JetBlue Airways Price Performance
JetBlue Airways (NASDAQ:JBLU – Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted ($0.59) earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways Corporation will post -2.39 EPS for the current year.
Insider Buying and Selling
In other news, Director Vivek Sharma sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the sale, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.41% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after buying an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $30,000. Leonteq Securities AG acquired a new position in JetBlue Airways in the 4th quarter valued at $32,000. Finally, Essential Partners LLC grew its stake in JetBlue Airways by 1,048.5% in the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after buying an additional 6,658 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.
About JetBlue Airways
JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.
The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.
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