Grupo Aeromexico (NYSE:AERO) Shares Gap Down – Here’s What Happened

Shares of Grupo Aeromexico (NYSE:AERO) gapped down before the market opened on Monday . The stock had previously closed at $21.04, but opened at $20.30. Grupo Aeromexico shares last traded at $20.40, with a volume of 100,136 shares traded.

Wall Street Analysts Forecast Growth

AERO has been the topic of a number of recent analyst reports. Weiss Ratings initiated coverage on Grupo Aeromexico in a report on Tuesday, February 3rd. They set a “hold (c)” rating on the stock. Citigroup assumed coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $27.00 price target on the stock. Morgan Stanley started coverage on shares of Grupo Aeromexico in a report on Wednesday, December 17th. They issued an “overweight” rating and a $30.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Grupo Aeromexico in a report on Wednesday, December 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Itau BBA Securities assumed coverage on shares of Grupo Aeromexico in a report on Sunday, November 30th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.83.

Grupo Aeromexico Stock Performance

The company has a 50-day moving average price of $20.47.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in shares of Grupo Aeromexico during the 4th quarter worth approximately $220,000. Sandia Investment Management LP purchased a new position in Grupo Aeromexico during the fourth quarter worth $220,000. Quarry LP purchased a new position in Grupo Aeromexico during the fourth quarter worth $232,000. VR Advisory Services Ltd acquired a new position in shares of Grupo Aeromexico in the fourth quarter worth $259,000. Finally, HRT Financial LP purchased a new stake in shares of Grupo Aeromexico in the fourth quarter valued at $295,000.

About Grupo Aeromexico

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.