JetBlue Airways (NASDAQ:JBLU) Shares Down 9.2% - What's Next?

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) was down 9.2% during mid-day trading on Tuesday . The stock traded as low as $5.87 and last traded at $5.87. Approximately 5,540,030 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 16,305,080 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

A number of research analysts recently commented on JBLU shares. Susquehanna lowered their price objective on JetBlue Airways from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Morgan Stanley reiterated an "equal weight" rating and issued a $8.00 price objective on shares of JetBlue Airways in a research report on Wednesday, December 11th. The Goldman Sachs Group restated a "sell" rating and issued a $5.50 target price on shares of JetBlue Airways in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut JetBlue Airways from a "buy" rating to a "hold" rating and cut their price target for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Finally, Citigroup increased their price objective on JetBlue Airways from $6.85 to $7.60 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.33.

JetBlue Airways Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The company has a 50 day moving average of $7.05 and a two-hundred day moving average of $6.61. The firm has a market cap of $1.95 billion, a P/E ratio of -2.35 and a beta of 1.80.

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JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results 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 return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the previous year, the business posted ($0.19) EPS. Sell-side analysts expect that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Activity

In other news, Director Nik Mittal purchased 100,000 shares of JetBlue Airways stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the acquisition, the director now directly owns 116,443 shares in the company, valued at $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JetBlue Airways

A number of large investors have recently bought and sold shares of the business. Forum Financial Management LP acquired a new position in shares of JetBlue Airways during the 4th quarter valued at about $111,000. Neo Ivy Capital Management acquired a new position in JetBlue Airways during the fourth quarter valued at approximately $2,130,000. Vise Technologies Inc. bought a new position in shares of JetBlue Airways in the fourth quarter valued at approximately $89,000. PharVision Advisers LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $94,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JetBlue Airways by 8.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,054 shares of the transportation company's stock worth $1,517,000 after buying an additional 14,268 shares during the period. 83.71% of the stock is currently owned by institutional investors.

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.