Mesa Air Group, Inc. (NASDAQ:MESA) Short Interest Down 29.4% in March

Mesa Air Group, Inc. (NASDAQ:MESA) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 172,400 shares, a drop of 29.4% from the February 28th total of 244,100 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 212,200 shares, the days-to-cover ratio is currently 0.8 days.

Mesa Air Group Price Performance

Shares of NASDAQ MESA traded up $0.01 during mid-day trading on Tuesday, hitting $0.79. 66,934 shares of the stock were exchanged, compared to its average volume of 266,462. The company has a market cap of $32.80 million, a P/E ratio of -0.35 and a beta of 3.07. Mesa Air Group has a twelve month low of $0.77 and a twelve month high of $1.89. The stock’s fifty day simple moving average is $1.10 and its two-hundred day simple moving average is $1.10. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.29 and a current ratio of 0.45.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MESA. Millennium Management LLC acquired a new stake in Mesa Air Group in the 4th quarter valued at about $25,000. Raymond James Financial Inc. acquired a new stake in shares of Mesa Air Group in the fourth quarter valued at approximately $44,000. Federated Hermes Inc. raised its position in shares of Mesa Air Group by 64.9% during the fourth quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock worth $76,000 after acquiring an additional 25,715 shares during the last quarter. Renaissance Technologies LLC increased its position in Mesa Air Group by 50.4% in the fourth quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock worth $96,000 after purchasing an additional 27,614 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Mesa Air Group during the 4th quarter worth about $117,000. 13.34% of the stock is owned by institutional investors.

About Mesa Air Group

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.