Mesa Air Group (NASDAQ:RJET) Trading 7.5% Higher – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET) shares traded up 7.5% on Tuesday . The stock traded as high as $19.99 and last traded at $19.99. Approximately 15,510 shares were traded during trading, a decline of 89% from the average session 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 report on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mesa Air Group has an average rating of “Hold”.

Mesa Air Group Stock Performance

The firm has a fifty day moving average of $19.66 and a 200-day moving average of $19.18. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.92 and a beta of 1.61.

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

Hedge Funds Weigh In On Mesa Air Group

Several hedge funds have recently added to or reduced their stakes in the business. Par Capital Management Inc. acquired a new position in Mesa Air Group during the second quarter worth about $2,091,000. Pinnacle Holdings LLC lifted its holdings in shares of 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 purchasing an additional 392,878 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Mesa Air Group in the fourth quarter valued at approximately $442,000. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

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.