Mesa Air Group (NASDAQ:RJET) Shares Gap Up – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET) shares gapped up before the market opened on Thursday . The stock had previously closed at $17.85, but opened at $19.00. Mesa Air Group shares last traded at $19.00, with a volume of 423 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Mesa Air Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Mesa Air Group Stock Performance

The firm’s fifty day moving average is $21.17 and its 200-day moving average is $18.25. The company has a market capitalization of $539.05 million, a P/E ratio of -3.19 and a beta of 1.69.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings data on Friday, November 21st. The company reported ($0.75) EPS for the quarter. The company had revenue of $90.68 million during the quarter. Mesa Air Group had a negative net margin of 43.64% and a negative return on equity of 1,171.23%.

Institutional Investors Weigh In On Mesa Air Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC raised its stake in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Mesa Air Group in the 3rd quarter worth about $56,000. Par Capital Management Inc. bought a new position in shares of Mesa Air Group in the 2nd quarter worth about $2,091,000. Finally, Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group in the 2nd quarter valued at about $444,000. Institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.