Mesa Air Group (NASDAQ:RJET) Shares Up 9.2% - What's Next?

Key Points

• Shares of Mesa Air Group jumped ~9.2% on Friday to about $18.20, despite lighter-than-average volume (≈48,117 shares vs. a 112,451 daily average).
• Weiss Ratings upgraded RJET from "sell (d+)" to "hold (c-)," and MarketBeat's consensus rating for the stock is Hold.
• Mesa reported quarterly EPS $0.73 on revenue of $527.4 million, with a market capitalization near $856.5 million and a P/E ≈ 19.5.

Shares of Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report) rose 9.2% on Friday . The stock traded as high as $18.23 and last traded at $18.20. Approximately 48,117 shares were traded during trading, a decline of 57% from the average daily volume of 112,451 shares. The stock had previously closed at $16.66.

Wall Street Analysts Forecast Growth

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

Mesa Air Group Stock Up 9.8%

The stock has a market capitalization of $856.52 million, a price-to-earnings ratio of 19.46 and a beta of 1.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.79. The business has a fifty day moving average of $18.89 and a 200 day moving average of $19.60.

Mesa Air Group (NASDAQ:RJET - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter. Mesa Air Group had a return on equity of 8.38% and a net margin of 3.29%.The company had revenue of $527.40 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RJET. Pinnacle Holdings LLC increased its position 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 acquiring an additional 392,878 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Mesa Air Group in the 3rd quarter worth approximately $56,000. Geode Capital Management LLC purchased a new position in shares of Mesa Air Group during the 4th quarter worth approximately $442,000. Finally, Par Capital Management Inc. acquired a new stake in Mesa Air Group in the 2nd quarter valued at approximately $2,091,000. Hedge funds and other institutional investors own 13.34% of the company's stock.

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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