JetBlue Airways (NASDAQ:JBLU) Shares Down 8.7% – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU) shares dropped 8.7% on Monday . The company traded as low as $4.96 and last traded at $4.9950. Approximately 4,163,479 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 24,707,379 shares. The stock had previously closed at $5.47.

Analyst Ratings Changes

JBLU has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their target price on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Wednesday, April 1st. BMO Capital Markets initiated coverage on JetBlue Airways in a research report on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 target price for the company. Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. TD Cowen upgraded JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.93.

JetBlue Airways Stock Performance

The firm’s 50 day simple moving average is $4.88 and its 200-day simple moving average is $4.93. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -2.61 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm earned ($0.59) earnings per share. JetBlue Airways’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts expect that JetBlue Airways Corporation will post -2.78 EPS for the current year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the sale, the director directly owned 13,379 shares of the company’s stock, valued at $62,881.30. The trade was a 72.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.41% of the stock is currently owned by company insiders.

Institutional Trading of JetBlue Airways

Several large investors have recently added to or reduced their stakes in JBLU. Rockefeller Capital Management L.P. raised its stake in JetBlue Airways by 157.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of JetBlue Airways in the fourth quarter worth $30,000. Leonteq Securities AG acquired a new position in shares of JetBlue Airways in the fourth quarter worth $32,000. Finally, Essential Partners LLC increased its stake in shares of JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after acquiring an additional 6,658 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.