Short Interest in Mesa Air Group, Inc. (NASDAQ:MESA) Drops By 21.6%

Mesa Air Group, Inc. (NASDAQ:MESA) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 279,600 shares, a drop of 21.6% from the July 15th total of 356,600 shares. Based on an average trading volume of 446,100 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MESA. Pinnacle Holdings LLC increased its holdings in Mesa Air Group by 17.8% during the 4th quarter. Pinnacle Holdings LLC now owns 329,844 shares of the company’s stock valued at $333,000 after purchasing an additional 49,823 shares during the period. Virtu Financial LLC increased its stake in shares of Mesa Air Group by 207.3% during the first quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock valued at $65,000 after buying an additional 50,174 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Mesa Air Group by 69.9% during the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after acquiring an additional 13,700 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Mesa Air Group by 47.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock worth $44,000 after acquiring an additional 8,181 shares during the period. 13.34% of the stock is owned by hedge funds and other institutional investors.

Mesa Air Group Price Performance

MESA stock traded up $0.03 during mid-day trading on Friday, hitting $1.33. 65,818 shares of the stock were exchanged, compared to its average volume of 835,560. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.35. The stock has a market capitalization of $54.74 million, a price-to-earnings ratio of -0.43 and a beta of 3.17. The business has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.14. Mesa Air Group has a 12 month low of $0.40 and a 12 month high of $1.89.

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

Mesa Air Group Company Profile

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.