JetBlue Airways (NASDAQ:JBLU) Trading 7.4% Higher – Here’s Why

JetBlue Airways Corporation (NASDAQ:JBLU) was up 7.4% on Friday . The company traded as high as $5.27 and last traded at $5.3610. 9,744,177 shares traded hands during trading, a decline of 62% from the average daily volume of 25,731,662 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JBLU. Citigroup upped their price target on JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Bank of America lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group raised their price objective on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research note on Thursday, July 2nd. Raymond James Financial reiterated an “underperform” rating on shares of JetBlue Airways in a report on Monday, July 6th. Finally, UBS Group raised their price target on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $5.31.

JetBlue Airways Trading Up 5.6%

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 firm has a market capitalization of $1.96 billion, a PE ratio of -2.72 and a beta of 1.73. The stock’s fifty day simple moving average is $5.34 and its 200 day simple moving average is $5.16.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.59) earnings per share. On average, sell-side analysts predict that JetBlue Airways Corporation will post -2.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Vivek Sharma sold 32,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director directly owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This represents a 47.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Winkelmann sold 35,473 shares of JetBlue Airways stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the transaction, the director directly owned 13,379 shares in the company, valued at $62,881.30. This represents a 72.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.41% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways in the fourth quarter worth about $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways during the fourth quarter worth $32,000. Finally, Essential Partners LLC raised its holdings in JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.