Mesa Air Group (NASDAQ:RJET) Reaches New 52-Week High – Time to Buy?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.70 and last traded at $24.77, with a volume of 697896 shares trading hands. The stock had previously closed at $23.57.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Mesa Air Group Stock Down 3.3%

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm’s 50 day simple moving average is $19.72 and its 200-day simple moving average is $19.68. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.93 and a beta of 1.58.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 6.13%. The firm had revenue of $527.40 million for the quarter.

Institutional Trading of Mesa Air Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in RJET. Par Capital Management Inc. bought a new stake in Mesa Air Group during the second quarter worth $2,091,000. GSA Capital Partners LLP bought a new stake in Mesa Air Group during the third quarter worth $56,000. Pinnacle Holdings LLC raised its position in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after acquiring an additional 392,878 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in Mesa Air Group during the fourth quarter worth $442,000. 13.34% of the stock is owned by institutional investors.

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.