Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) saw strong trading volume on Friday . 69,126 shares traded hands during mid-day trading, an increase of 128% from the previous session’s volume of 30,349 shares.The stock last traded at $19.00 and had previously closed at $18.37.

Analyst Ratings Changes

RJET has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mesa Air Group currently has a consensus rating of “Sell”.

Mesa Air Group Stock Up 7.1%

The firm has a market capitalization of $549.38 million, a P/E ratio of -3.25 and a beta of 1.75. The company has a fifty day simple moving average of $20.75 and a 200 day simple moving average of $18.81.

Institutional Inflows and Outflows

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

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.