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

Mesa Air Group, Inc. (NASDAQ:RJET) gapped up before the market opened on Monday . The stock had previously closed at $17.97, but opened at $19.85. Mesa Air Group shares last traded at $19.95, with a volume of 941 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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, the company has an average rating of “Sell”.

Mesa Air Group Price Performance

The company has a market capitalization of $567.18 million, a price-to-earnings ratio of -3.36 and a beta of 1.72. The firm has a fifty day simple moving average of $18.83 and a 200 day simple moving average of $19.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of Mesa Air Group during the 3rd quarter valued at $56,000. Pinnacle Holdings LLC lifted its position in shares of Mesa Air Group by 31.8% during the 3rd 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 period. Orvieto Partners L.P. acquired a new stake in shares of Mesa Air Group during the 2nd quarter worth about $444,000. Finally, Par Capital Management Inc. bought a new position in Mesa Air Group during the 2nd quarter valued at about $2,091,000. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Air Group Company Profile

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.