Mesa Air Group (NASDAQ:RJET) Shares Gap Down – What’s Next?

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $19.94, but opened at $19.30. Mesa Air Group shares last traded at $20.09, with a volume of 3,671 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Mesa Air Group Trading Down 1.7%

The stock has a market capitalization of $547.71 million, a price-to-earnings ratio of -3.24 and a beta of 1.69. The firm has a 50-day moving average of $21.12 and a 200-day moving average of $18.48.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RJET. GSA Capital Partners LLP acquired a new stake in shares of Mesa Air Group during the third quarter worth about $56,000. Orvieto Partners L.P. acquired a new position in Mesa Air Group in the 2nd quarter worth approximately $444,000. Pinnacle Holdings LLC raised its position in Mesa Air Group by 31.8% during the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the last quarter. Finally, Par Capital Management Inc. acquired a new stake in Mesa Air Group during the 2nd quarter valued at approximately $2,091,000. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

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.