Mesa Air Group (NASDAQ:MESA) Shares Down 8.3%

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) were down 8.3% during mid-day trading on Friday . The company traded as low as $1.42 and last traded at $1.43. Approximately 302,923 shares changed hands during trading, a decline of 65% from the average daily volume of 875,354 shares. The stock had previously closed at $1.56.

Mesa Air Group Stock Down 8.3 %

The firm has a market capitalization of $59.08 million, a price-to-earnings ratio of -0.48 and a beta of 3.17. The firm has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.12. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.35 and a current ratio of 0.50.

Mesa Air Group (NASDAQ:MESA) last issued its quarterly earnings data on Tuesday, June 18th. The company reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $131.58 million during the quarter. Mesa Air Group had a negative net margin of 25.47% and a negative return on equity of 38.10%.

Institutional Trading of Mesa Air Group

An institutional investor recently raised its position in Mesa Air Group stock. Virtu Financial LLC grew its stake in Mesa Air Group, Inc. (NASDAQ:MESA) by 207.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,374 shares of the company’s stock after purchasing an additional 50,174 shares during the quarter. Virtu Financial LLC owned approximately 0.18% of Mesa Air Group worth $65,000 as of its most recent filing with the SEC. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.