Mesa Air Group, Inc. (NASDAQ:MESA) Sees Significant Increase in Short Interest

Mesa Air Group, Inc. (NASDAQ:MESA) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 324,900 shares, a growth of 97.1% from the January 31st total of 164,800 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 247,900 shares, the days-to-cover ratio is currently 1.3 days.

Mesa Air Group Stock Up 2.7 %

Shares of MESA stock traded up $0.03 during mid-day trading on Friday, reaching $1.14. 106,842 shares of the company’s stock traded hands, compared to its average volume of 233,137. The company has a quick ratio of 0.29, a current ratio of 0.45 and a debt-to-equity ratio of 2.13. The company’s 50-day moving average price is $1.24 and its 200-day moving average price is $1.14. The company has a market cap of $47.10 million, a P/E ratio of -0.50 and a beta of 3.09. Mesa Air Group has a 12 month low of $0.75 and a 12 month high of $1.89.

Institutional Investors Weigh In On Mesa Air Group

Several hedge funds have recently bought and sold shares of MESA. Squarepoint Ops LLC bought a new position in shares of Mesa Air Group during the fourth quarter valued at approximately $117,000. Pinnacle Holdings LLC grew its stake in shares of Mesa Air Group by 10.8% in the 4th quarter. Pinnacle Holdings LLC now owns 757,125 shares of the company’s stock worth $878,000 after buying an additional 73,736 shares during the last quarter. Raymond James Financial Inc. bought a new position in Mesa Air Group during the 4th quarter valued at approximately $44,000. Renaissance Technologies LLC increased its position in Mesa Air Group by 50.4% during the 4th quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock valued at $96,000 after buying an additional 27,614 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Mesa Air Group by 64.9% during the fourth quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock valued at $76,000 after buying an additional 25,715 shares during the last quarter. Institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

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.