Mesa Air Group (NASDAQ:RJET) Shares Gap Up – What’s Next?

Mesa Air Group, Inc. (NASDAQ:RJET) gapped up prior to trading on Tuesday . The stock had previously closed at $20.06, but opened at $20.84. Mesa Air Group shares last traded at $20.84, with a volume of 2,683 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RJET shares. Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Mesa Air Group Stock Performance

The company has a market cap of $584.85 million, a price-to-earnings ratio of -3.46 and a beta of 1.60. The stock’s 50-day moving average is $21.09 and its 200-day moving average is $18.61.

Institutional Trading of Mesa Air Group

Several large investors have recently made changes to their positions in the company. Par Capital Management Inc. acquired a new stake in Mesa Air Group in the second quarter valued at approximately $2,091,000. Orvieto Partners L.P. bought a new position in shares of Mesa Air Group in the 2nd quarter worth $444,000. Pinnacle Holdings LLC lifted its holdings in shares of Mesa Air Group by 31.8% in the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after purchasing an additional 392,878 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Mesa Air Group in the 3rd quarter valued at $56,000. 13.34% of the stock is currently owned by institutional investors and hedge funds.

About Mesa Air Group

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.