Mesa Air Group, Inc. (NASDAQ:MESA) Sees Large Drop in Short Interest

Mesa Air Group, Inc. (NASDAQ:MESA) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 670,700 shares, a decline of 34.2% from the June 15th total of 1,020,000 shares. Based on an average daily volume of 418,200 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.1% of the shares of the company are sold short.

Institutional Trading of Mesa Air Group

A number of institutional investors have recently modified their holdings of MESA. SignalPoint Asset Management LLC lifted its position in shares of Mesa Air Group by 100.0% during the 4th quarter. SignalPoint Asset Management LLC now owns 49,796 shares of the company’s stock valued at $50,000 after acquiring an additional 24,898 shares during the period. Virtu Financial LLC lifted its position in shares of Mesa Air Group by 207.3% during the 1st quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock valued at $65,000 after acquiring an additional 50,174 shares during the period. Finally, Pinnacle Holdings LLC lifted its position in shares of Mesa Air Group by 17.8% during the 4th quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock valued at $333,000 after acquiring an additional 49,823 shares during the period. 13.34% of the stock is currently owned by institutional investors.

Mesa Air Group Stock Down 1.3 %

MESA traded down $0.02 during trading on Friday, hitting $1.57. The stock had a trading volume of 13,755 shares, compared to its average volume of 950,174. The company has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.04. Mesa Air Group has a one year low of $0.40 and a one year high of $2.49. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.50.

Mesa Air Group (NASDAQ:MESA) last released its earnings results on Tuesday, June 18th. The company reported $0.15 earnings per share for the quarter. The firm had revenue of $131.58 million during the quarter. Mesa Air Group had a negative return on equity of 38.10% and a negative net margin of 25.47%.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.