Hawaiian (NASDAQ:HA) Shares Gap Down After Earnings Miss

Hawaiian Holdings, Inc. (NASDAQ:HA)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $12.90, but opened at $12.48. Hawaiian shares last traded at $12.53, with a volume of 272,039 shares.

The transportation company reported ($2.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.75) by ($0.02). Hawaiian had a negative return on equity of 171.49% and a negative net margin of 9.59%. The firm had revenue of $645.57 million during the quarter, compared to analysts’ expectations of $629.24 million. During the same quarter in the previous year, the business earned ($2.17) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

Separately, Susquehanna dropped their price objective on Hawaiian from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday.

Institutional Investors Weigh In On Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC purchased a new stake in shares of Hawaiian in the 1st quarter valued at $28,000. PenderFund Capital Management Ltd. acquired a new position in Hawaiian during the 4th quarter worth $37,000. PNC Financial Services Group Inc. grew its stake in Hawaiian by 210.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock worth $78,000 after purchasing an additional 3,719 shares in the last quarter. CVA Family Office LLC acquired a new position in Hawaiian during the 4th quarter worth $79,000. Finally, CWM LLC grew its stake in Hawaiian by 97.2% during the 4th quarter. CWM LLC now owns 7,984 shares of the transportation company’s stock worth $113,000 after purchasing an additional 3,936 shares in the last quarter. Hedge funds and other institutional investors own 70.15% of the company’s stock.

Hawaiian Price Performance

The stock has a market capitalization of $646.05 million, a price-to-earnings ratio of -2.47 and a beta of 2.39. The company has a debt-to-equity ratio of 16.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average of $13.58 and a 200 day moving average of $11.17.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.