Mesa Air Group (NASDAQ:RJET) Shares Gap Up - What's Next?

Key Points

• Shares gapped up — RJET opened at $18.47 after a $17.12 close and last traded at $17.79 on light volume (9,473 shares), remaining below its 50‑day ($18.95) and 200‑day ($19.62) moving averages.
• Analyst outlook — Weiss Ratings upgraded Mesa from "sell (d+)" to "hold (c-)," and the stock's consensus rating on MarketBeat is currently "Hold."
• Recent results and fundamentals — The company reported $0.73 EPS and $527.4M in revenue for the quarter but posted a negative net margin (−6.32%); market cap is about $760M with a debt/equity of 0.66 and ~13.3% institutional ownership.

Shares of Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $17.12, but opened at $18.47. Mesa Air Group shares last traded at $17.79, with a volume of 9,473 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

Mesa Air Group Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.94. The firm has a market capitalization of $760.03 million, a P/E ratio of -9.17 and a beta of 1.73. The stock's 50 day simple moving average is $18.95 and its 200 day simple moving average is $19.62.

Mesa Air Group (NASDAQ:RJET - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter. The business had revenue of $527.40 million for the quarter. Mesa Air Group had a negative net margin of 6.32% and a positive return on equity of 4.28%.

Hedge Funds Weigh In On Mesa Air Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Holdings LLC boosted its stake in shares of Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company's stock valued at $2,117,000 after purchasing an additional 392,878 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Mesa Air Group during the third quarter valued at approximately $56,000. Geode Capital Management LLC bought a new position in shares of Mesa Air Group during the fourth quarter valued at approximately $442,000. Finally, Par Capital Management Inc. bought a new position in shares of Mesa Air Group during the second quarter valued at approximately $2,091,000. 13.34% of the stock is currently owned by institutional investors.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.

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