Traders Buy Large Volume of Call Options on JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) saw unusually large options trading on Tuesday. Investors bought 36,186 call options on the company. This represents an increase of approximately 37% compared to the average daily volume of 26,500 call options.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JBLU. TD Cowen reduced their price objective on JetBlue Airways from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday. Evercore lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. Morgan Stanley reduced their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. Finally, Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 target price on the stock in a research report on Tuesday, February 3rd. Seven analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.02.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares during the period. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways in the 4th quarter worth approximately $30,000. Leonteq Securities AG purchased a new position in JetBlue Airways during the fourth quarter valued at $32,000. Bogart Wealth LLC boosted its stake in shares of JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of JetBlue Airways during the 4th quarter valued at approximately $41,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

Shares of JBLU opened at $4.52 on Tuesday. JetBlue Airways has a one year low of $3.34 and a one year high of $6.50. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. The company’s fifty day moving average price is $5.33 and its 200 day moving average price is $4.95. The company has a market capitalization of $1.67 billion, a PE ratio of -2.71 and a beta of 1.71.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts expect that JetBlue Airways will post -0.69 earnings per share for the current year.

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.