Mesa Air Group, Inc. (NASDAQ:MESA) Sees Large Decline in Short Interest

Mesa Air Group, Inc. (NASDAQ:MESA) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 231,100 shares, a decrease of 18.9% from the August 15th total of 284,800 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 322,000 shares, the days-to-cover ratio is presently 0.7 days.

Mesa Air Group Price Performance

MESA stock opened at $1.26 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.50. The firm has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.18. Mesa Air Group has a 52-week low of $0.40 and a 52-week high of $1.89. The firm has a market capitalization of $52.05 million, a price-to-earnings ratio of -0.42 and a beta of 3.10.

Mesa Air Group (NASDAQ:MESA) last announced its quarterly earnings data on Tuesday, June 18th. The company reported $0.15 earnings per share (EPS) for the quarter. Mesa Air Group had a negative return on equity of 38.10% and a negative net margin of 25.47%. The business had revenue of $131.58 million during the quarter.

Institutional Trading of Mesa Air Group

Several institutional investors have recently bought and sold shares of MESA. Vanguard Personalized Indexing Management LLC lifted its stake in shares of 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 buying an additional 8,181 shares in the last quarter. Renaissance Technologies LLC lifted its position in Mesa Air Group by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after acquiring an additional 13,700 shares in the last quarter. Pinnacle Holdings LLC boosted its stake in Mesa Air Group by 17.8% during the 4th quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock valued at $333,000 after purchasing an additional 49,823 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of Mesa Air Group by 207.3% in the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock worth $65,000 after purchasing an additional 50,174 shares in the last quarter. 13.34% of the stock is owned by hedge funds and other 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.