Mesa Air Group (NASDAQ:RJET) Trading 8.6% Higher – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price shot up 8.6% during mid-day trading on Monday . The stock traded as high as $18.34 and last traded at $18.32. 13,664 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 80,720 shares. The stock had previously closed at $16.87.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Mesa Air Group Price Performance

The firm has a 50 day moving average of $18.92 and a 200-day moving average of $19.96. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The company has a market cap of $495.76 million, a P/E ratio of -10.03 and a beta of 1.59.

Mesa Air Group (NASDAQ:RJET) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.54 earnings per share for the quarter. Mesa Air Group had a positive return on equity of 4.28% and a negative net margin of 6.32%.The business had revenue of $464.10 million during the quarter.

Hedge Funds Weigh In On Mesa Air Group

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC bought a new stake in Mesa Air Group in the 4th quarter valued at $442,000. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group during the third quarter valued at about $56,000. Pinnacle Holdings LLC increased its holdings in shares of Mesa Air Group by 31.8% in the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after purchasing an additional 392,878 shares during the last quarter. Orvieto Partners L.P. purchased a new stake in shares of Mesa Air Group in the second quarter worth about $444,000. Finally, Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group in the second quarter worth about $2,091,000. 13.34% of the stock is owned by hedge funds and other 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.