Mesa Air Group (NASDAQ:RJET) Shares Gap Down – Time to Sell?

Mesa Air Group, Inc. (NASDAQ:RJET) shares gapped down before the market opened on Thursday . The stock had previously closed at $19.94, but opened at $19.30. Mesa Air Group shares last traded at $20.09, with a volume of 3,671 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Mesa Air Group to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Mesa Air Group Price Performance

The firm has a market cap of $560.28 million, a price-to-earnings ratio of -3.32 and a beta of 1.69. The business’s 50-day moving average price is $21.10 and its two-hundred day moving average price is $18.53.

Institutional Investors Weigh In On Mesa Air Group

Several hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of Mesa Air Group in the third quarter valued at $56,000. Orvieto Partners L.P. acquired a new stake in Mesa Air Group in the 2nd quarter worth about $444,000. Par Capital Management Inc. acquired a new stake in Mesa Air Group in the 2nd quarter worth about $2,091,000. Finally, Pinnacle Holdings LLC grew its holdings in Mesa Air Group by 31.8% in the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after buying an additional 392,878 shares during the period. Institutional investors and hedge funds own 13.34% of the company’s stock.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.