Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Should You Buy?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) saw strong trading volume on Friday . 46,036 shares traded hands during trading, an increase of 56% from the previous session’s volume of 29,488 shares.The stock last traded at $20.10 and had previously closed at $20.60.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mesa Air Group presently has a consensus rating of “Sell”.

Mesa Air Group Price Performance

The stock has a market capitalization of $562.79 million, a P/E ratio of -3.33 and a beta of 1.69. The stock’s 50-day simple moving average is $21.03 and its 200 day simple moving average is $18.68.

Hedge Funds Weigh In On Mesa Air Group

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in Mesa Air Group during the 3rd quarter worth approximately $56,000. 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 in the last quarter. Orvieto Partners L.P. bought a new position in Mesa Air Group during the 2nd quarter worth $444,000. Finally, Par Capital Management Inc. bought a new stake in shares of Mesa Air Group in the second quarter valued at about $2,091,000. 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.