Grupo Aeromexico (NYSE:AERO) Shares Gap Down – Here’s What Happened

Grupo Aeromexico (NYSE:AERO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $21.04, but opened at $20.30. Grupo Aeromexico shares last traded at $20.40, with a volume of 100,136 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AERO shares. Itau BBA Securities initiated coverage on shares of Grupo Aeromexico in a report on Sunday, November 30th. They issued an “outperform” rating on the stock. Zacks Research upgraded Grupo Aeromexico to a “hold” rating in a report on Thursday, December 18th. Morgan Stanley began coverage on shares of Grupo Aeromexico in a research report on Wednesday, December 17th. They set an “overweight” rating and a $30.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Barclays lifted their price target on shares of Grupo Aeromexico from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Grupo Aeromexico currently has a consensus rating of “Moderate Buy” and an average target price of $30.83.

Grupo Aeromexico Stock Performance

The company has a 50-day moving average price of $20.49.

Institutional Trading of Grupo Aeromexico

Several institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in Grupo Aeromexico in the fourth quarter valued at approximately $220,000. Sandia Investment Management LP purchased a new position in shares of Grupo Aeromexico during the 4th quarter valued at $220,000. Quarry LP purchased a new position in shares of Grupo Aeromexico during the 4th quarter valued at $232,000. VR Advisory Services Ltd purchased a new stake in Grupo Aeromexico in the 4th quarter worth about $259,000. Finally, HRT Financial LP bought a new stake in Grupo Aeromexico in the 4th quarter valued at about $295,000.

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.