JetBlue Airways (NASDAQ:JBLU) Shares Down 2.5% - Here's Why

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report)'s share price was down 2.5% during trading on Friday . The stock traded as low as $4.46 and last traded at $4.46. Approximately 1,681,922 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 21,720,211 shares. The stock had previously closed at $4.57.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JBLU shares. Susquehanna lowered their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Raymond James Financial downgraded JetBlue Airways from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. UBS Group set a $3.00 target price on JetBlue Airways and gave the stock a "sell" rating in a research report on Monday, July 7th. Barclays decreased their target price on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, JetBlue Airways has a consensus rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Stock Down 2.7%

The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 3.31. The company has a market capitalization of $1.58 billion, a P/E ratio of -5.42 and a beta of 1.76. The company has a 50 day simple moving average of $4.67 and a two-hundred day simple moving average of $5.43.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported ($0.59) EPS for the quarter, beating analysts' consensus estimates of ($0.61) by $0.02. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. JetBlue Airways had a negative return on equity of 11.93% and a negative net margin of 3.12%. The company's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. As a group, equities analysts predict that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock worth $130,470,000 after purchasing an additional 16,486,326 shares in the last quarter. Renaissance Technologies LLC grew its stake in JetBlue Airways by 491.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company's stock worth $33,597,000 after purchasing an additional 3,552,057 shares in the last quarter. Nomura Holdings Inc. grew its stake in JetBlue Airways by 3,729.9% in the fourth quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company's stock worth $27,009,000 after purchasing an additional 3,346,482 shares in the last quarter. Voloridge Investment Management LLC grew its stake in JetBlue Airways by 60.8% in the fourth quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company's stock worth $40,897,000 after purchasing an additional 1,968,343 shares in the last quarter. Finally, Norges Bank bought a new position in JetBlue Airways in the fourth quarter worth approximately $14,624,000. Institutional investors own 83.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.