JetBlue Airways (NASDAQ:JBLU) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• JetBlue shares rose 7.4% and crossed above their 50-day moving average of $3.81, reaching as high as $4.07 before last trading at $3.94.
• Analyst sentiment remains cautious: nine analysts rate the stock Hold and four Sell, with an average rating of “Reduce” and an average price target of $4.94.
• JetBlue reported a quarterly loss of $0.60 per share, missing the $0.55 loss consensus; revenue of $2.81 billion also fell short of estimates.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $3.81 and traded as high as $4.07. JetBlue Airways shares last traded at $3.94, with a volume of 37,271,819 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on JBLU shares. Barclays decreased their price objective on shares of JetBlue Airways from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, September 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a research note on Thursday, October 15th. Susquehanna reduced their target price on JetBlue Airways from $4.00 to $3.00 and set a "neutral" rating for the company in a report on Thursday, October 29th. Seaport Research Partners lowered JetBlue Airways from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Finally, BMO Capital Markets decreased their price target on JetBlue Airways from $6.75 to $5.25 and set a "market perform" rating for the company in a research note on Monday, September 28th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $4.94.

JetBlue Airways Stock Up 7.4%

The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 5.92. The company has a market cap of $1.49 billion, a PE ratio of -1.47 and a beta of 1.90. The company's fifty day moving average is $3.81 and its 200-day moving average is $4.87.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its earnings results on Monday, October 26th. The transportation company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.05). The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.83 billion. JetBlue Airways had a negative net margin of 10.01% and a negative return on equity of 56.96%. The firm's revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, analysts predict that JetBlue Airways Corporation will post -2.68 EPS for the current year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $3.24 per share, with a total value of $324,000.00. Following the purchase, the director owned 238,537 shares of the company's stock, valued at $772,859.88. This trade represents a 72.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 6,000 shares of company stock valued at $23,920. Corporate insiders own 2.41% of the company's stock.

Institutional Trading of JetBlue Airways

Several hedge funds have recently bought and sold shares of the stock. Cim Investment Management Inc. lifted its holdings in JetBlue Airways by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company's stock worth $271,000 after buying an additional 3,203 shares in the last quarter. Amundi grew its stake in shares of JetBlue Airways by 8.9% during the first quarter. Amundi now owns 39,447 shares of the transportation company's stock valued at $174,000 after acquiring an additional 3,238 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after acquiring an additional 3,373 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of JetBlue Airways by 35.4% during the third quarter. Kestra Advisory Services LLC now owns 13,682 shares of the transportation company's stock valued at $58,000 after acquiring an additional 3,577 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of JetBlue Airways by 5.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 71,087 shares of the transportation company's stock worth $301,000 after acquiring an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

About JetBlue Airways

JetBlue Airways Corporation is a U.S. passenger airline headquartered in Long Island City, New York. Founded in 1998, the company began flying in 2000 and operates scheduled service across the United States and to destinations in the Caribbean, Latin America, Canada and Europe.

The airline offers economy and premium travel options, including its Mint business-class service on select routes and additional-legroom seating. JetBlue also provides loyalty rewards through its TrueBlue program and sells vacation packages combining flights with other travel services.

Joanna Geraghty became JetBlue's chief executive officer in February 2024.

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