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

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) 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 trading, a decline of 92% from the average daily volume of 21,720,211 shares. The stock had previously closed at $4.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JBLU shares. Barclays lowered their price target on shares of JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Citigroup upped their price objective on shares of JetBlue Airways from $4.25 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Bank of America decreased their price objective on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Susquehanna decreased their price objective on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, UBS Group set a $3.00 price objective on shares of JetBlue Airways and gave the stock a "sell" rating in a research report on Monday, July 7th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, JetBlue Airways has an average rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Price Performance

The firm has a fifty day moving average of $4.66 and a 200 day moving average of $5.38. The company has a market capitalization of $1.58 billion, a P/E ratio of -5.43 and a beta of 1.76. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 3.31.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. 111 Capital purchased a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $105,000. PFG Investments LLC raised its holdings in shares of JetBlue Airways by 25.6% during the 2nd quarter. PFG Investments LLC now owns 69,137 shares of the transportation company's stock worth $292,000 after acquiring an additional 14,100 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of JetBlue Airways by 7.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 180,720 shares of the transportation company's stock worth $763,000 after acquiring an additional 12,510 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of JetBlue Airways by 5,888.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 252,943 shares of the transportation company's stock worth $1,070,000 after acquiring an additional 248,719 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $48,000. 83.71% of the stock is currently 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.