Mesa Air Group (NASDAQ:MESA) Trading Down 2.2% - What's Next?

Key Points

• Mesa Air Group's shares fell by 2.2%, closing at $1.31 during recent trading, marking a significant decrease in trading volume, down 67% from the average session.
• The company reported a negative earnings per share (EPS) of ($0.01) for the last quarter, with a revenue of $92.78 million, alongside a staggering negative return on equity of 1,171.23%.
• Institutional investors own 13.34% of Mesa Air Group, with notable positions being taken or expanded by firms like GEM Asset Management LLC and Pinnacle Holdings LLC.

Shares of Mesa Air Group, Inc. (NASDAQ:MESA - Get Free Report) fell 2.2% during mid-day trading on Monday . The company traded as low as $1.31 and last traded at $1.31. 40,940 shares were traded during trading, a decline of 67% from the average session volume of 122,221 shares. The stock had previously closed at $1.34.

Mesa Air Group Trading Down 2.2%

The stock's 50-day moving average is $1.20 and its 200-day moving average is $1.06. The firm has a market capitalization of $54.85 million, a price-to-earnings ratio of -0.31 and a beta of 3.06.

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

Hedge Funds Weigh In On Mesa Air Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESA. Millennium Management LLC acquired a new position in Mesa Air Group in the 4th quarter valued at approximately $25,000. Squarepoint Ops LLC acquired a new position in Mesa Air Group in the 4th quarter valued at approximately $117,000. GEM Asset Management LLC increased its position 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 acquiring an additional 41,493 shares during the period. Pinnacle Holdings LLC increased its position 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 acquiring an additional 63,828 shares during the period. Finally, Orvieto Partners L.P. acquired a new position in Mesa Air Group in the 2nd quarter valued at approximately $444,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

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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