JetBlue Airways Sees Unusually Large Options Volume (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the target of some unusual options trading on Wednesday. Investors purchased 25,011 call options on the stock. This is an increase of approximately 30% compared to the average volume of 19,273 call options.

JetBlue Airways Stock Up 1.5 %

JBLU stock opened at $6.10 on Thursday. The firm has a market cap 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 firm’s 50 day moving average price is $7.18 and its 200-day moving average price is $6.43. JetBlue Airways has a one year low of $4.49 and a one year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. During the same period last year, the business earned ($0.19) EPS. On average, equities research analysts anticipate that JetBlue Airways will post -0.81 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on JBLU shares. Evercore ISI increased their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Citigroup increased their price objective on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Finally, UBS Group reduced their target price on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.69.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently modified their holdings of the business. Bogart Wealth LLC boosted its stake in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in JetBlue Airways during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in JetBlue Airways during the second quarter worth about $34,000. Blue Trust Inc. grew its position in JetBlue Airways by 130.8% during 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 period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in JetBlue Airways during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

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.