JetBlue Airways (NASDAQ:JBLU) Shares Up 10.5% – Time to Buy?

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price shot up 10.5% during trading on Tuesday . The stock traded as high as $5.29 and last traded at $5.2950. 7,524,922 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 23,462,359 shares. The stock had previously closed at $4.79.

Analyst Ratings Changes

Several research firms have commented on JBLU. BMO Capital Markets began coverage on shares of JetBlue Airways in a report on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target on the stock. UBS Group lowered their price target on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. The Goldman Sachs Group lowered their price target on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Wednesday, April 1st. Finally, Susquehanna upped their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, JetBlue Airways currently has a consensus rating of “Reduce” and a consensus price target of $4.88.

JetBlue Airways Stock Up 1.1%

The company has a market cap of $2.11 billion, a price-to-earnings ratio of -3.39 and a beta of 1.75. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 3.65. The business has a fifty day moving average of $5.03 and a two-hundred day moving average of $4.82.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. As a group, equities analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its holdings in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in 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 worth $29,000 after purchasing an additional 5,049 shares during the period. Kestra Advisory Services LLC purchased a new position in JetBlue Airways in the 4th quarter valued at about $30,000. Bogart Wealth LLC lifted its stake in JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after buying an additional 7,000 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in JetBlue Airways in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.