JetBlue Airways (NASDAQ:JBLU) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.65 and traded as high as $4.65. JetBlue Airways shares last traded at $4.53, with a volume of 12,303,142 shares changing hands.

Analyst Ratings Changes

JBLU has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. TD Cowen increased their target price on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Monday, September 8th. Susquehanna lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. UBS Group upped their price target on JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a report on Friday, September 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $5.04.

JetBlue Airways Price Performance

The company’s 50 day moving average price is $4.52 and its 200 day moving average price is $4.65. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -3.45 and a beta of 1.76.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted ($0.16) EPS. On average, equities research analysts predict that JetBlue Airways Corporation will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors have recently bought and sold shares of JBLU. Geode Capital Management LLC increased its stake in shares of JetBlue Airways by 1.7% in the second quarter. Geode Capital Management LLC now owns 7,745,777 shares of the transportation company’s stock valued at $32,770,000 after buying an additional 128,622 shares in the last quarter. Par Capital Management Inc. lifted its position in shares of JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after purchasing an additional 2,814,870 shares in the last quarter. U S Global Investors Inc. grew its stake in shares of JetBlue Airways by 25.2% during the second quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after purchasing an additional 1,011,279 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of JetBlue Airways by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after purchasing an additional 274,892 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of JetBlue Airways by 10.1% in the second quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock valued at $19,091,000 after purchasing an additional 412,921 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.