Mesa Air Group (NASDAQ:RJET) Stock Price Up 7.4% – Here’s What Happened

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price was up 7.4% during trading on Monday . The stock traded as high as $18.13 and last traded at $17.94. Approximately 189,664 shares traded hands during trading, an increase of 72% from the average daily volume of 110,137 shares. The stock had previously closed at $16.71.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Mesa Air Group to a “hold” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Mesa Air Group has an average rating of “Sell”.

Mesa Air Group Trading Down 3.2%

The firm has a 50-day moving average of $18.59 and a 200 day moving average of $19.76. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $810.63 million, a price-to-earnings ratio of -9.78 and a beta of 1.59.

Mesa Air Group (NASDAQ:RJET) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $464.10 million during the quarter. Mesa Air Group had a positive return on equity of 4.28% and a negative net margin of 6.32%.

Hedge Funds Weigh In On Mesa Air Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Mesa Air Group during the third quarter worth approximately $56,000. Geode Capital Management LLC acquired a new position in shares of Mesa Air Group during the 4th quarter valued at $442,000. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group during the 2nd quarter valued at $444,000. Par Capital Management Inc. bought a new stake in shares of Mesa Air Group in the 2nd quarter worth $2,091,000. Finally, Pinnacle Holdings LLC raised its stake in shares of Mesa Air Group by 31.8% in 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 in the last quarter. Institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

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.