JetBlue Airways (NASDAQ:JBLU) Shares Cross Above 50-Day Moving Average – What’s Next?

JetBlue Airways Corporation (NASDAQ:JBLU) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $3.81 and traded as high as $4.07. JetBlue Airways shares last traded at $3.94, with a volume of 37,271,819 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna cut their target price on JetBlue Airways from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Citigroup raised shares of JetBlue Airways from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $5.30 to $4.50 in a research report on Tuesday, October 6th. Seaport Research Partners lowered shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and upped their price target for the company from $3.00 to $5.50 in a report on Thursday, November 5th. Finally, Wall Street Zen downgraded shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $4.94.

JetBlue Airways Trading Up 7.4%

The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 5.92. The stock has a market cap of $1.49 billion, a P/E ratio of -1.47 and a beta of 1.90. The firm’s 50-day simple moving average is $3.81 and its 200 day simple moving average is $4.87.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Monday, October 26th. The transportation company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.05). JetBlue Airways had a negative net margin of 10.01% and a negative return on equity of 56.96%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business posted ($0.40) earnings per share. JetBlue Airways’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities research analysts anticipate that JetBlue Airways Corporation will post -2.68 earnings per share for the current year.

Insider Activity

In other news, Director Nik Mittal acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average price of $3.24 per share, with a total value of $324,000.00. Following the purchase, the director owned 238,537 shares of the company’s stock, valued at approximately $772,859.88. This represents a 72.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 6,000 shares of company stock worth $23,920. 2.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JBLU. Cim Investment Management Inc. grew its stake in shares of JetBlue Airways by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock worth $271,000 after purchasing an additional 3,203 shares during the last quarter. Amundi raised its holdings in shares of JetBlue Airways by 8.9% in the 1st quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after purchasing an additional 3,238 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in JetBlue Airways by 35.4% during the third quarter. Kestra Advisory Services LLC now owns 13,682 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 3,577 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in JetBlue Airways by 5.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 71,087 shares of the transportation company’s stock valued at $301,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a U.S. passenger airline headquartered in Long Island City, New York. Founded in 1998, the company began flying in 2000 and operates scheduled service across the United States and to destinations in the Caribbean, Latin America, Canada and Europe.

The airline offers economy and premium travel options, including its Mint business-class service on select routes and additional-legroom seating. JetBlue also provides loyalty rewards through its TrueBlue program and sells vacation packages combining flights with other travel services.

Joanna Geraghty became JetBlue’s chief executive officer in February 2024.