JetBlue Airways (NASDAQ:JBLU) Stock Passes Above 200 Day Moving Average – Here’s Why

JetBlue Airways Corporation (NASDAQ:JBLU)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.15 and traded as high as $5.53. JetBlue Airways shares last traded at $5.45, with a volume of 29,545,361 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JBLU. The Goldman Sachs Group upped their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Raymond James Financial reaffirmed an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Seaport Research Partners upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Thursday, April 16th. UBS Group increased their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. Finally, Bank of America raised their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of “Reduce” and a consensus target price of $5.31.

JetBlue Airways Stock Performance

The firm has a market capitalization of $1.92 billion, a PE ratio of -2.66 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a fifty day moving average price of $5.32 and a 200 day moving average price of $5.16.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.59) EPS. Research analysts anticipate that JetBlue Airways Corporation will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the sale, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after buying an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares during the period. Kestra Advisory Services LLC bought a new stake in JetBlue Airways during the 4th quarter valued at approximately $30,000. Leonteq Securities AG acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $32,000. Finally, Essential Partners LLC grew its position in JetBlue Airways by 1,048.5% in the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.