JetBlue Airways (NASDAQ:JBLU) Shares Up 8.2%

JetBlue Airways Co. (NASDAQ:JBLU) shares rose 8.2% on Thursday . The stock traded as high as $6.48 and last traded at $6.47. Approximately 6,379,191 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 15,270,803 shares. The stock had previously closed at $5.98.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JBLU shares. TD Cowen upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, Citigroup increased their price target on JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $6.00.

JetBlue Airways Trading Down 0.2 %

The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86. The firm has a 50 day moving average price of $5.50 and a 200 day moving average price of $5.95. The stock has a market capitalization of $2.18 billion, a PE ratio of -2.60 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm posted $0.45 EPS. JetBlue Airways’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that JetBlue Airways Co. will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently modified their holdings of JBLU. Allspring Global Investments Holdings LLC bought a new stake in JetBlue Airways during the first quarter worth $25,000. GAMMA Investing LLC raised its stake in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of JetBlue Airways in the 1st quarter worth about $30,000. Trust Co. of Vermont bought a new position in JetBlue Airways during the second quarter valued at about $27,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in JetBlue Airways during the second quarter worth about $34,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.