Mesa Air Group (NASDAQ:RJET) Shares Gap Down – Time to Sell?

Mesa Air Group, Inc. (NASDAQ:RJET) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.50, but opened at $18.05. Mesa Air Group shares last traded at $18.22, with a volume of 1,649 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen raised Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mesa Air Group currently has an average rating of “Sell”.

Mesa Air Group Stock Performance

The business has a fifty day simple moving average of $20.34 and a 200-day simple moving average of $19.19. The stock has a market capitalization of $499.11 million, a P/E ratio of -2.96 and a beta of 1.75.

Hedge Funds Weigh In On Mesa Air Group

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Mesa Air Group during the third quarter valued at approximately $56,000. Orvieto Partners L.P. purchased a new stake in shares of Mesa Air Group during the 2nd quarter worth approximately $444,000. Pinnacle Holdings LLC raised 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 during the period. Finally, Par Capital Management Inc. purchased a new position in Mesa Air Group in the second quarter valued at approximately $2,091,000. 13.34% of the stock is owned by hedge funds and other institutional investors.

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.