Mesa Air Group (NASDAQ:RJET) Stock Price Up 9.2% – Should You Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) rose 9.2% during mid-day trading on Friday . The company traded as high as $18.23 and last traded at $18.20. Approximately 48,117 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 112,451 shares. The stock had previously closed at $16.66.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Mesa Air Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Mesa Air Group Price Performance

The company’s 50-day moving average price is $18.89 and its 200-day moving average price is $19.60. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $856.52 million, a price-to-earnings ratio of 19.46 and a beta of 1.73.

Mesa Air Group (NASDAQ:RJET) last announced its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter. The firm had revenue of $527.40 million for the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 8.38%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in Mesa Air Group during the 3rd quarter worth $56,000. Geode Capital Management LLC purchased a new stake in Mesa Air Group during the 4th quarter worth about $442,000. Par Capital Management Inc. acquired a new stake in Mesa Air Group in the 2nd quarter valued at about $2,091,000. Finally, Pinnacle Holdings LLC raised its position 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 purchasing an additional 392,878 shares in the last quarter. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

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.