Mesa Air Group (NASDAQ:MESA) Trading 2.8% Higher - Still a Buy?

Key Points

• Mesa Air Group's shares saw a 2.8% increase, trading at $1.46 after reaching a high of $1.49, with trading volume up 66% from its average.
• Weiss Ratings has reissued a "sell (d-)" rating for the stock, which has a consensus rating of "Sell" among analysts.
• The company reported a negative net margin of 43.65% and a staggering negative return on equity of 1,171.23% for the last quarter, with revenue at $92.78 million.

Mesa Air Group, Inc. (NASDAQ:MESA - Get Free Report) shares traded up 2.8% during trading on Tuesday . The stock traded as high as $1.49 and last traded at $1.46. 184,528 shares traded hands during mid-day trading, an increase of 66% from the average session volume of 111,156 shares. The stock had previously closed at $1.42.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Mesa Air Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".

Mesa Air Group Stock Up 2.8%

The firm has a market cap of $61.14 million, a price-to-earnings ratio of -0.34 and a beta of 3.03. The stock's 50 day moving average is $1.27 and its 200 day moving average is $1.11.

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

Hedge Funds Weigh In On Mesa Air Group

Hedge funds have recently made changes to their positions in the business. Par Capital Management Inc. acquired a new position in Mesa Air Group in the second quarter worth approximately $2,091,000. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group in the 2nd quarter worth $444,000. Pinnacle Holdings LLC grew its holdings in shares of Mesa Air Group by 8.4% in the 1st quarter. Pinnacle Holdings LLC now owns 820,953 shares of the company's stock worth $643,000 after acquiring an additional 63,828 shares during the last quarter. Finally, GEM Asset Management LLC grew its holdings in shares of Mesa Air Group by 384.4% in the 1st quarter. GEM Asset Management LLC now owns 52,287 shares of the company's stock worth $42,000 after acquiring an additional 41,493 shares during the last quarter. Institutional investors and hedge funds own 13.34% of the company's stock.

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.

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