Mesa Air Group (NASDAQ:MESA) Shares Up 4.4% – Here’s What Happened

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) traded up 4.4% on Tuesday . The company traded as high as $1.03 and last traded at $1.02. 333,818 shares traded hands during trading, a decline of 48% from the average session volume of 642,566 shares. The stock had previously closed at $0.98.

Mesa Air Group Price Performance

The company has a current ratio of 0.45, a quick ratio of 0.29 and a debt-to-equity ratio of 2.13. The stock has a market cap of $42.14 million, a PE ratio of -0.44 and a beta of 3.12. The business has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $1.24.

Mesa Air Group (NASDAQ:MESA) last released its quarterly earnings data on Wednesday, October 16th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $110.79 million during the quarter. Mesa Air Group had a negative net margin of 19.86% and a negative return on equity of 32.45%.

Hedge Funds Weigh In On Mesa Air Group

A number of institutional investors have recently bought and sold shares of the stock. Regent Peak Wealth Advisors LLC purchased a new stake in Mesa Air Group in the 3rd quarter worth $36,000. Vanguard Personalized Indexing Management LLC grew its position in Mesa Air Group by 47.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after acquiring an additional 8,181 shares in the last quarter. Renaissance Technologies LLC grew its position in Mesa Air Group by 69.9% in the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after acquiring an additional 13,700 shares in the last quarter. Finally, Virtu Financial LLC grew its position in Mesa Air Group by 207.3% in the first quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock worth $65,000 after acquiring an additional 50,174 shares in the last quarter. 13.34% of the stock is owned by institutional investors.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.