JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – Time to Sell?

Shares of JetBlue Airways Co. (NASDAQ:JBLU) gapped down before the market opened on Tuesday . The stock had previously closed at $8.09, but opened at $6.98. JetBlue Airways shares last traded at $6.26, with a volume of 15,502,443 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JBLU shares. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a research report on Wednesday, December 11th. Susquehanna lifted their price objective on shares of JetBlue Airways from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Citigroup boosted their target price on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research report on Friday, November 15th. Finally, Evercore ISI upped their price target on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.69.

JetBlue Airways Price Performance

The company has a market capitalization of $2.12 billion, a PE ratio of -2.42 and a beta of 1.84. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The stock has a 50 day moving average price of $7.18 and a two-hundred day moving average price of $6.43.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. During the same quarter last year, the firm earned ($0.19) EPS. Equities analysts forecast that JetBlue Airways Co. will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC boosted its position in JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of JetBlue Airways in the third quarter worth $28,000. Blue Trust Inc. lifted its stake in shares of JetBlue Airways by 130.8% in the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after buying an additional 2,538 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of JetBlue Airways during the 4th quarter worth $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways in the 2nd quarter valued at $34,000. Institutional investors and hedge funds 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.