Mesa Air Group (NASDAQ:RJET) Trading 7.5% Higher – Time to Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) traded up 7.5% during mid-day trading on Tuesday . The stock traded as high as $19.99 and last traded at $19.99. Approximately 15,510 shares changed hands during trading, a decline of 89% from the average daily volume of 143,118 shares. The stock had previously closed at $18.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Mesa Air Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Mesa Air Group Trading Up 8.4%

The business’s 50-day simple moving average is $19.67 and its 200-day simple moving average is $19.15. The company has a market cap of $944.56 million, a PE ratio of 21.46 and a beta of 1.57. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Mesa Air Group (NASDAQ:RJET) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter. Mesa Air Group had a net margin of 3.29% and a return on equity of 6.13%. The business had revenue of $527.40 million for the quarter.

Institutional Investors Weigh In On Mesa Air Group

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Mesa Air Group in the 3rd quarter valued at approximately $56,000. Geode Capital Management LLC bought a new position in Mesa Air Group during the fourth quarter valued at approximately $442,000. Par Capital Management Inc. bought a new position in Mesa Air Group during the second quarter valued at approximately $2,091,000. Finally, Pinnacle Holdings LLC lifted its stake in Mesa Air Group by 31.8% in the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after acquiring an additional 392,878 shares during the last quarter. 13.34% of the stock is currently owned by institutional investors and hedge funds.

Mesa Air Group Company Profile

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.