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

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $5.77, but opened at $5.61. JetBlue Airways shares last traded at $5.62, with a volume of 1,168,180 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JBLU. TD Cowen lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a "hold" rating in a research report on Friday, September 6th. Bank of America upgraded JetBlue Airways from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $3.00 to $6.00 in a research report on Monday, September 9th. Citigroup boosted their price target on JetBlue Airways from $6.00 to $7.75 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Susquehanna boosted their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded JetBlue Airways to a "sell" rating in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, JetBlue Airways currently has a consensus rating of "Hold" and a consensus target price of $5.98.

JetBlue Airways Price Performance

The company has a fifty day moving average of $6.20 and a 200 day moving average of $5.90. The firm has a market capitalization of $1.98 billion, a P/E ratio of -2.24 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 0.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the business posted ($0.39) earnings per share. The firm's revenue was up .5% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways Co. will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors have recently added to or reduced their stakes in JBLU. Allspring Global Investments Holdings LLC acquired a new position in JetBlue Airways in the first quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in JetBlue Airways in the second quarter valued at approximately $27,000. Bogart Wealth LLC lifted its stake in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after buying an additional 4,000 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways in the 2nd quarter valued at about $34,000. Finally, GAMMA Investing LLC raised its stake in JetBlue Airways by 79.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company's stock worth $41,000 after buying an additional 2,993 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

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.