JetBlue Airways (NASDAQ:JBLU) Trading Down 6.4% – Time to Sell?

JetBlue Airways Co. (NASDAQ:JBLU)’s share price was down 6.4% during trading on Monday . The company traded as low as $4.82 and last traded at $4.87. Approximately 3,586,085 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 17,211,800 shares. The stock had previously closed at $5.21.

Analysts Set New Price Targets

JBLU has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and lowered their price objective for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. Citigroup lifted their target price on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Susquehanna decreased their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Seaport Res Ptn cut JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Bank of America reissued an “underperform” rating and issued a $6.50 target price on shares of JetBlue Airways in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.33.

JetBlue Airways Stock Performance

The firm has a market capitalization of $1.69 billion, a PE ratio of -2.04 and a beta of 1.80. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The business’s 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $6.64.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the prior year, the business earned ($0.19) EPS. Research analysts expect that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In related news, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the acquisition, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the sale, the chief financial officer now directly owns 41,833 shares in the company, valued at approximately $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of JetBlue Airways in the fourth quarter worth about $40,000. Bogart Wealth LLC increased its stake in JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after buying an additional 2,850 shares during the period. R Squared Ltd bought a new stake in JetBlue Airways during the 4th quarter valued at about $58,000. Finally, Glenmede Trust Co. NA purchased a new stake in JetBlue Airways in the 3rd quarter valued at about $66,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.