JetBlue Airways (NASDAQ:JBLU) Trading Down 7.3% - What's Next?

Key Points

• JetBlue Airways shares fell 7.3% on Thursday, trading as low as $4.84 amid lighter-than-average volume. The stock closed previously at $5.16.
• Recent analyst sentiment remains weak: multiple firms maintained or lowered ratings, and the stock now carries an average "Reduce" rating with a consensus price target of $5.31.
• JetBlue’s fundamentals remain pressured, with a recent quarterly loss of $0.87 per share versus expectations of a $0.72 loss, and analysts forecasting -2.39 EPS for the full fiscal year.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) traded down 7.3% on Thursday . The stock traded as low as $4.84 and last traded at $4.7850. 15,615,815 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 25,704,008 shares. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JBLU. Wall Street Zen raised shares of JetBlue Airways from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Citigroup upped their target price on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a "neutral" rating in a research report on Friday, June 26th. Susquehanna raised their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. The Goldman Sachs Group upped their target price on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JetBlue Airways in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $5.31.

JetBlue Airways Stock Down 6.3%

The business has a 50 day moving average of $5.33 and a 200-day moving average of $5.16. The stock has a market cap of $1.80 billion, a PE ratio of -2.49 and a beta of 1.73. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25.

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

Insider Buying and Selling

In other 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Winkelmann sold 35,473 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the sale, the director owned 13,379 shares of the company's stock, valued at $62,881.30. This trade represents a 72.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.41% of the company's stock.

Institutional Trading of JetBlue Airways

A number of institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its position in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock worth $25,000 after purchasing an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock valued at $29,000 after purchasing an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of JetBlue Airways during the 4th quarter valued at about $30,000. Leonteq Securities AG acquired a new position in JetBlue Airways during the fourth quarter worth approximately $32,000. Finally, Essential Partners LLC increased its holdings in shares of JetBlue Airways by 1,048.5% during the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock worth $32,000 after buying an additional 6,658 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

About JetBlue Airways

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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