JetBlue Airways (NASDAQ:JBLU) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• JetBlue Airways shares moved above their 200-day moving average on Monday, trading as high as $5.53 and last changing hands at $5.45. The move came on heavy volume of 29.5 million shares.
• Analyst sentiment remains mixed but cautious: the stock has an average rating of “Reduce” with a consensus price target of $5.31. Recent calls included target increases from Citigroup and Bank of America, while Seaport upgraded the stock to buy.
• JetBlue reported a wider-than-expected quarterly loss of $0.87 per share, though revenue matched estimates at $2.24 billion and rose 4.7% year over year. The company also saw insider selling, while institutional investors remain the dominant owners.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.15 and traded as high as $5.53. JetBlue Airways shares last traded at $5.45, with a volume of 29,545,361 shares trading hands.

Analyst Upgrades and Downgrades

JBLU has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a "neutral" rating in a report on Friday, June 26th. Seaport Research Partners upgraded JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 target price for the company in a research note on Thursday, April 16th. Wall Street Zen raised JetBlue Airways from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Bank of America boosted their price target on JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of JetBlue Airways in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $5.31.

JetBlue Airways Stock Up 0.6%

The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -2.81 and a beta of 1.73. The firm's fifty day moving average is $5.30 and its 200-day moving average is $5.15.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.JetBlue Airways's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.59) earnings per share. On average, sell-side analysts predict that JetBlue Airways Corporation will post -2.39 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director owned 35,479 shares in the company, valued at $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Winkelmann sold 35,473 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. This represents a 72.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently made changes to their positions in JBLU. Merit Financial Group LLC lifted its stake in JetBlue Airways by 78.6% during the second quarter. Merit Financial Group LLC now owns 47,668 shares of the transportation company's stock worth $273,000 after purchasing an additional 20,985 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in JetBlue Airways during the second quarter valued at $6,890,000. GAMMA Investing LLC raised its holdings in shares of JetBlue Airways by 131.1% during the second quarter. GAMMA Investing LLC now owns 12,304 shares of the transportation company's stock worth $71,000 after purchasing an additional 6,980 shares during the period. Empowered Funds LLC raised its holdings in shares of JetBlue Airways by 2.2% during the first quarter. Empowered Funds LLC now owns 1,432,400 shares of the transportation company's stock worth $6,331,000 after purchasing an additional 30,670 shares during the period. Finally, Caerus Investment Advisors LLC bought a new position in shares of JetBlue Airways in the 1st quarter worth about $94,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline's core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.

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