JetBlue Airways (NASDAQ:JBLU) Hits New 1-Year Low – Time to Sell?

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) reached a new 52-week low during trading on Wednesday. The company traded as low as $3.34 and last traded at $3.35, with a volume of 40,763,152 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JBLU shares. UBS Group lowered their target price on shares of JetBlue Airways from $5.00 to $4.00 and set a “sell” rating on the stock in a research report on Thursday, September 10th. Bank of America lifted their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. BMO Capital Markets decreased their price target on JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating on the stock in a research note on Monday, September 28th. Finally, Susquehanna decreased their price target on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Eight equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.02.

JetBlue Airways Trading Down 7.5%

The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The company has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $5.04.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that JetBlue Airways Corporation will post -2.68 EPS for the current year.

Insider Activity at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the sale, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. This represents a 26.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 83,253 shares of company stock valued at $474,477. 2.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently added to or reduced their stakes in the business. U S Global Investors Inc. lifted its holdings in shares of JetBlue Airways by 17.2% in the first quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock valued at $24,498,000 after purchasing an additional 813,782 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of JetBlue Airways in the second quarter valued at about $20,022,000. Primecap Management Co. CA acquired a new stake in shares of JetBlue Airways in the second quarter valued at approximately $13,549,000. Renaissance Technologies LLC increased its stake in shares of JetBlue Airways by 235.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock worth $9,928,000 after purchasing an additional 1,577,500 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $11,336,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.