Mesa Air Group (NASDAQ:RJET) Shares Up 6.5% – Time to Buy?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) shot up 6.5% on Friday . The company traded as high as $17.40 and last traded at $17.40. 52,348 shares were traded during trading, a decline of 62% from the average daily volume of 138,242 shares. The stock had previously closed at $16.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Mesa Air Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Mesa Air Group Stock Performance

The company’s fifty day simple moving average is $19.23 and its 200 day simple moving average is $19.07. The stock has a market capitalization of $809.69 million, a P/E ratio of 18.39 and a beta of 1.61. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Mesa Air Group (NASDAQ:RJET) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 6.13%. The firm had revenue of $527.40 million for the quarter.

Hedge Funds Weigh In On Mesa Air Group

An institutional investor recently bought a new stake in Mesa Air Group stock. Par Capital Management Inc. purchased a new stake in Mesa Air Group, Inc. (NASDAQ:RJET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned approximately 5.37% of Mesa Air Group as of its most recent SEC filing. 13.34% of the stock is owned by 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.