JetBlue Airways (NASDAQ:JBLU) Shares Down 4% - Here's What Happened

Shares of JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) were down 4% during trading on Tuesday . The stock traded as low as $4.36 and last traded at $4.39. Approximately 2,781,326 shares changed hands during trading, a decline of 87% from the average daily volume of 20,938,277 shares. The stock had previously closed at $4.57.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JBLU. Raymond James cut shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Bank of America cut their target price on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Citigroup increased their price target on JetBlue Airways from $4.25 to $5.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft cut JetBlue Airways from a "buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $7.00 in a research note on Tuesday, March 4th. Finally, Susquehanna reduced their price objective on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.16.

JetBlue Airways Trading Down 4.7%

The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18. The firm has a market cap of $1.54 billion, a P/E ratio of -1.87 and a beta of 1.83. The company's 50 day moving average is $4.55 and its two-hundred day moving average is $5.87.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data 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. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the business posted ($0.43) earnings per share. JetBlue Airways's quarterly revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts predict that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Institutional Trading of JetBlue Airways

A number of large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in JetBlue Airways by 6.4% in the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company's stock worth $239,000 after purchasing an additional 1,823 shares during the period. Xponance Inc. increased its position in shares of JetBlue Airways by 10.2% in the 4th quarter. Xponance Inc. now owns 22,613 shares of the transportation company's stock valued at $178,000 after buying an additional 2,095 shares in the last quarter. Vident Advisory LLC raised its stake in JetBlue Airways by 10.9% during the 4th quarter. Vident Advisory LLC now owns 23,181 shares of the transportation company's stock worth $182,000 after buying an additional 2,284 shares during the period. Summit Investment Advisors Inc. lifted its holdings in JetBlue Airways by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 32,679 shares of the transportation company's stock worth $257,000 after acquiring an additional 2,666 shares in the last quarter. Finally, Pinnacle Holdings LLC grew its stake in JetBlue Airways by 1.3% in the first quarter. Pinnacle Holdings LLC now owns 237,596 shares of the transportation company's stock valued at $1,145,000 after acquiring an additional 3,113 shares during the period. 83.71% of the stock is currently owned by institutional investors.

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.

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