JetBlue Airways (NASDAQ:JBLU) Hits New 52-Week Low - Here's Why

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $3.44 and last traded at $3.48, with a volume of 6116632 shares traded. The stock had previously closed at $3.56.

Analysts Set New Price Targets

Several brokerages have recently commented on JBLU. Citigroup lowered their price objective on shares of JetBlue Airways from $7.15 to $4.25 and set a "neutral" rating for the company in a research note on Friday, April 11th. Raymond James raised JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Monday, April 7th. Barclays decreased their price objective on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Seaport Res Ptn cut shares of JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, UBS Group decreased their price objective on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a report on Monday, April 7th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, JetBlue Airways presently has an average rating of "Hold" and a consensus price target of $5.17.

JetBlue Airways Stock Performance

The company's 50-day simple moving average is $5.43 and its 200-day simple moving average is $6.40. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -1.53 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the previous year, the firm earned ($0.19) earnings per share. Analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares of the company's stock, valued at approximately $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nik Mittal bought 100,000 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of JetBlue Airways by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 32,410,772 shares of the transportation company's stock worth $254,749,000 after purchasing an additional 121,267 shares during the period. FMR LLC grew its position in JetBlue Airways by 14,595.7% in the 4th quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock valued at $130,470,000 after purchasing an additional 16,486,326 shares during the period. American Century Companies Inc. increased its position in shares of JetBlue Airways by 8.4% during the fourth quarter. American Century Companies Inc. now owns 8,771,993 shares of the transportation company's stock worth $68,948,000 after acquiring an additional 678,891 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in JetBlue Airways by 18.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company's stock valued at $52,864,000 after purchasing an additional 1,063,929 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of JetBlue Airways by 88.2% during the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company's stock valued at $36,170,000 after buying an additional 2,584,350 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

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.