Mesa Air Group, Inc. (NASDAQ:MESA) Short Interest Update

Key Points

• Mesa Air Group experienced a 26.7% increase in short interest in August, bringing the total to 346,900 shares as of August 31st.
• Shares of Mesa Air Group traded at $1.39, with a market cap of $58.20 million, while the company reported negative earnings of ($0.01) per share in its latest quarterly results.
• Wall Street Zen downgraded Mesa Air Group's rating from "hold" to "sell" in May 2023, reflecting concerns about the company's profitability and stock performance.

Mesa Air Group, Inc. (NASDAQ:MESA - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 346,900 shares, an increase of 26.7% from the August 15th total of 273,900 shares. Based on an average daily volume of 123,600 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.1% of the shares of the stock are short sold. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 123,600 shares, the days-to-cover ratio is presently 2.8 days.

Hedge Funds Weigh In On Mesa Air Group

Several institutional investors and hedge funds have recently bought and sold shares of MESA. Millennium Management LLC acquired a new position in Mesa Air Group in the 4th quarter valued at about $25,000. Squarepoint Ops LLC acquired a new position in Mesa Air Group in the 4th quarter valued at about $117,000. GEM Asset Management LLC boosted its holdings in Mesa Air Group by 384.4% in the 1st quarter. GEM Asset Management LLC now owns 52,287 shares of the company's stock valued at $42,000 after purchasing an additional 41,493 shares during the last quarter. Pinnacle Holdings LLC boosted its holdings in Mesa Air Group by 8.4% in the 1st quarter. Pinnacle Holdings LLC now owns 820,953 shares of the company's stock valued at $643,000 after purchasing an additional 63,828 shares during the last quarter. Finally, Orvieto Partners L.P. acquired a new position in Mesa Air Group in the 2nd quarter valued at about $444,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Mesa Air Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Mesa Air Group Price Performance

MESA traded down $0.06 on Friday, reaching $1.34. 184,586 shares of the company's stock were exchanged, compared to its average volume of 122,221. The stock has a market cap of $56.11 million, a PE ratio of -0.31 and a beta of 3.06. The stock's fifty day moving average price is $1.20 and its 200-day moving average price is $1.06. Mesa Air Group has a twelve month low of $0.68 and a twelve month high of $1.43.

Mesa Air Group (NASDAQ:MESA - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $92.78 million during the quarter. Mesa Air Group had a negative net margin of 43.65% and a negative return on equity of 1,171.23%.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.