Mesa Air Group (NASDAQ:RJET) Trading Up 7.5% – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) rose 7.5% during trading on Tuesday . The company traded as high as $19.99 and last traded at $19.99. 15,510 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 143,118 shares. The stock had previously closed at $18.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Mesa Air Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Mesa Air Group Price Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.94. The business’s 50 day simple moving average is $19.67 and its 200-day simple moving average is $19.15. The stock has a market capitalization of $944.56 million, a price-to-earnings ratio of 21.46 and a beta of 1.57.

Mesa Air Group (NASDAQ:RJET) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter. The firm had revenue of $527.40 million during the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 6.13%.

Institutional Trading of Mesa Air Group

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Mesa Air Group during the third quarter worth about $56,000. Geode Capital Management LLC bought a new position in shares of Mesa Air Group during the 4th quarter valued at about $442,000. Par Capital Management Inc. bought a new position in shares of Mesa Air Group during the 2nd quarter valued at about $2,091,000. Finally, Pinnacle Holdings LLC grew its position in Mesa Air Group by 31.8% in the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the last quarter. Institutional investors and hedge funds own 13.34% of the company’s stock.

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.