JetBlue Airways (NASDAQ:JBLU) Stock Price Up 9.9% – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price shot up 9.9% during trading on Friday . The stock traded as high as $6.94 and last traded at $6.95. 6,723,207 shares were traded during trading, a decline of 73% from the average session volume of 24,719,965 shares. The stock had previously closed at $6.32.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JBLU. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a research note on Friday, November 15th. Barclays raised their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. UBS Group decreased their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research report on Wednesday. Bank of America restated an “underperform” rating and set a $6.50 target price on shares of JetBlue Airways in a report on Friday, January 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.69.

JetBlue Airways Stock Up 10.4 %

The company has a market cap of $2.42 billion, a PE ratio of -2.98 and a beta of 1.84. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The firm has a fifty day simple moving average of $7.19 and a 200 day simple moving average of $6.43.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.29%. During the same quarter last year, the business earned ($0.19) earnings per share. Equities research analysts predict that JetBlue Airways Co. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. Bogart Wealth LLC grew its holdings in shares of JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in JetBlue Airways during the third quarter worth approximately $28,000. Blue Trust Inc. increased its position in shares of JetBlue Airways by 130.8% in the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after acquiring an additional 2,538 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of JetBlue Airways in the 4th quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the 2nd quarter valued at $34,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.