Mesa Air Group (NASDAQ:RJET) Sees Unusually-High Trading Volume – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET) saw unusually-strong trading volume on Friday . Approximately 354,426 shares traded hands during trading, an increase of 406% from the previous session’s volume of 70,045 shares.The stock last traded at $19.77 and had previously closed at $19.80.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Mesa Air Group Price Performance

The firm has a market capitalization of $551.62 million, a PE ratio of -3.27 and a beta of 1.72. The company’s fifty day simple moving average is $18.82 and its 200-day simple moving average is $19.58.

Institutional Investors Weigh In On Mesa Air Group

Several institutional investors have recently bought and sold shares of RJET. Geode Capital Management LLC purchased a new stake in Mesa Air Group during the 4th quarter worth approximately $442,000. GSA Capital Partners LLP acquired a new stake in shares of Mesa Air Group in the third quarter worth approximately $56,000. Orvieto Partners L.P. purchased a new stake in shares of Mesa Air Group during the second quarter worth approximately $444,000. Pinnacle Holdings LLC increased its position in shares of 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 purchasing an additional 392,878 shares in the last quarter. Finally, Par Capital Management Inc. acquired a new position in Mesa Air Group in the 2nd quarter valued at $2,091,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

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.