JetBlue Airways Target of Unusually High Options Trading (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) saw unusually large options trading activity on Friday. Investors acquired 80,195 call options on the stock. This is an increase of 72% compared to the average daily volume of 46,495 call options.

Hedge Funds Weigh In On JetBlue Airways

Several large investors have recently bought and sold shares of JBLU. Neo Ivy Capital Management purchased a new position in shares of JetBlue Airways in the second quarter worth approximately $33,000. Quarry LP purchased a new position in shares of JetBlue Airways in the first quarter worth approximately $32,000. Compass Wealth Management LLC purchased a new position in shares of JetBlue Airways in the fourth quarter worth approximately $35,000. Performa Ltd US LLC increased its position in shares of JetBlue Airways by 96.6% in the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company's stock worth $26,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of JetBlue Airways by 41.3% in the fourth quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company's stock worth $35,000 after acquiring an additional 1,861 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

JetBlue Airways Stock Performance

NASDAQ:JBLU traded down $0.29 during mid-day trading on Friday, hitting $4.89. The stock had a trading volume of 16,467,986 shares, compared to its average volume of 18,126,164. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -8.73 and a beta of 1.80. The company has a 50 day simple moving average of $4.95 and a 200-day simple moving average of $5.73. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $9.45. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.09.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The transportation company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.14). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.38 billion. JetBlue Airways had a negative net margin of 1.89% and a negative return on equity of 0.46%. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, research analysts expect that JetBlue Airways will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of JetBlue Airways in a research report on Thursday, October 5th. They issued a "sell" rating on the stock. Bank of America downgraded shares of JetBlue Airways from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $6.00 to $3.00 in a research report on Tuesday. Susquehanna reduced their price target on shares of JetBlue Airways from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 1st. Citigroup reduced their price target on shares of JetBlue Airways from $7.50 to $5.75 and set a "neutral" rating on the stock in a research report on Monday, October 9th. Finally, BNP Paribas downgraded shares of JetBlue Airways from a "neutral" rating to an "underperform" rating and set a $3.00 price target on the stock. in a research report on Friday, November 10th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $5.25.

About JetBlue Airways

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.