JetBlue Airways (NASDAQ:JBLU) Shares Down 8.7% – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price dropped 8.7% during trading on Monday . The stock traded as low as $4.96 and last traded at $4.9950. Approximately 4,163,479 shares traded hands during trading, a decline of 83% from the average daily volume of 24,707,379 shares. The stock had previously closed at $5.47.

Wall Street Analyst Weigh In

JBLU has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a report on Wednesday, April 1st. TD Cowen raised JetBlue Airways from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. BMO Capital Markets initiated coverage on JetBlue Airways in a report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 target price for the company. Seaport Research Partners raised JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Thursday, April 16th. Finally, Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $4.93.

JetBlue Airways Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. The company has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.93. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -2.61 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. As a group, equities research analysts forecast that JetBlue Airways Corporation will post -2.78 earnings per share for the current year.

Insider Activity

In other news, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the transaction, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in JetBlue Airways by 0.6% in the fourth quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock worth $1,488,000 after purchasing an additional 1,928 shares during the period. Vident Advisory LLC lifted its position in JetBlue Airways by 20.2% in the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock worth $60,000 after purchasing an additional 2,226 shares during the period. Essex Financial Services Inc. lifted its position in JetBlue Airways by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock worth $107,000 after purchasing an additional 2,599 shares during the period. Cetera Investment Advisers lifted its position in JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock worth $130,000 after purchasing an additional 2,954 shares during the period. Finally, Amundi lifted its position in JetBlue Airways by 8.9% in the first quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after purchasing an additional 3,238 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.