JetBlue Airways Co. (NASDAQ:JBLU) Sees Large Drop in Short Interest

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 48,190,000 shares, a decrease of 5.1% from the May 15th total of 50,780,000 shares. Based on an average daily volume of 12,100,000 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on JetBlue Airways from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, April 24th. Barclays cut their target price on JetBlue Airways from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Monday, May 6th. Citigroup cut their target price on JetBlue Airways from $6.90 to $6.50 and set a "neutral" rating for the company in a research report on Wednesday, May 29th. Susquehanna increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, April 9th. Finally, Evercore ISI increased their price target on JetBlue Airways from $5.00 to $8.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.75.

JetBlue Airways Trading Up 1.8 %

Shares of NASDAQ:JBLU traded up $0.10 during trading on Tuesday, hitting $5.66. The company had a trading volume of 6,226,934 shares, compared to its average volume of 15,000,483. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -2.29 and a beta of 1.91. JetBlue Airways has a one year low of $3.42 and a one year high of $9.45. The company has a fifty day simple moving average of $5.92 and a two-hundred day simple moving average of $6.04. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.54 and a quick ratio of 0.51.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. JetBlue Airways had a negative return on equity of 5.72% and a negative net margin of 8.79%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. As a group, equities analysts forecast that JetBlue Airways will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of JBLU. Charles Schwab Investment Management Inc. lifted its stake in shares of JetBlue Airways by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,675,198 shares of the transportation company's stock worth $16,906,000 after acquiring an additional 162,073 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of JetBlue Airways by 40.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 222,795 shares of the transportation company's stock worth $1,025,000 after acquiring an additional 64,292 shares during the last quarter. Citigroup Inc. lifted its stake in shares of JetBlue Airways by 9.4% during the 3rd quarter. Citigroup Inc. now owns 377,628 shares of the transportation company's stock worth $1,737,000 after acquiring an additional 32,516 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of JetBlue Airways by 31.8% during the 3rd quarter. WINTON GROUP Ltd now owns 68,058 shares of the transportation company's stock worth $313,000 after acquiring an additional 16,416 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of JetBlue Airways by 107.2% during the 3rd quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company's stock worth $15,925,000 after acquiring an additional 1,791,273 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

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.