JetBlue Airways (NASDAQ:JBLU) Sets New 1-Year Low – Here’s Why

JetBlue Airways Co. (NASDAQ:JBLU)’s share price reached a new 52-week low on Monday . The stock traded as low as $3.62 and last traded at $3.73, with a volume of 51212294 shares traded. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and reduced their price target for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Raymond James raised JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Monday. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. UBS Group lowered their target price on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Finally, Susquehanna reduced their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.03.

JetBlue Airways Stock Up 4.2 %

The firm has a market cap of $1.45 billion, a P/E ratio of -1.76 and a beta of 1.69. The business’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $6.61. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. As a group, equities research analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Activity

In related news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. This trade represents a 26.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the acquisition, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in JetBlue Airways in the 4th quarter valued at approximately $40,000. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after acquiring an additional 2,850 shares during the period. R Squared Ltd bought a new stake in shares of JetBlue Airways during the fourth quarter valued at approximately $58,000. Finally, GAMMA Investing LLC lifted its position in JetBlue Airways by 85.8% in the fourth quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock worth $66,000 after purchasing an additional 3,857 shares during the period. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.