Mesa Air Group (NASDAQ:RJET) Trading Down 3% - Should You Sell?

Key Points

• Mesa Air Group shares fell 3% to $18.56, below both the 50-day and 200-day moving averages near $19.3, on trading volume below its daily average.
• Wall Street sentiment remains neutral: Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” while the company’s sole analyst rating remains Hold.
• Mesa reported quarterly earnings of $0.89 per share on $571.1 million in revenue. Institutional investors own 13.34% of the company, including a new 24,061-share position acquired by Geode Capital Management.

Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report)'s stock price was down 3% on Thursday . The company traded as low as $18.16 and last traded at $18.56. 97,397 shares traded hands during trading, a decline of 14% from the average session volume of 112,766 shares. The stock had previously closed at $19.13.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Mesa Air Group Stock Performance

The stock's 50 day moving average price is $19.27 and its 200 day moving average price is $19.35. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $868.98 million, a price-to-earnings ratio of 21.33 and a beta of 1.64.

Mesa Air Group (NASDAQ:RJET - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter. Mesa Air Group had a return on equity of 7.07% and a net margin of 2.96%.The company had revenue of $571.10 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Mesa Air Group stock. Geode Capital Management LLC acquired a new position in shares of Mesa Air Group, Inc. (NASDAQ:RJET - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,061 shares of the company's stock, valued at approximately $442,000. Geode Capital Management LLC owned approximately 0.09% of Mesa Air Group as of its most recent SEC filing. Hedge funds and other institutional investors own 13.34% of the company's stock.

Mesa Air Group Company Profile

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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