JetBlue Airways Co. (NASDAQ:JBLU) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

JetBlue Airways Co. (NASDAQ:JBLU – Get Free Report) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 50,810,000 shares, a drop of 5.8% from the September 30th total of 53,960,000 shares. Currently, 16.4% of the shares of the stock are sold short. Based on an average daily volume of 17,980,000 shares, the short-interest ratio is currently 2.8 days.

JetBlue Airways Stock Up 3.2 %

Shares of JBLU stock traded up $0.18 during trading on Thursday, hitting $5.81. 10,100,753 shares of the company were exchanged, compared to its average volume of 15,549,531. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -2.29 and a beta of 1.92. The business’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $5.92. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $8.07.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.39) earnings per share. As a group, analysts forecast that JetBlue Airways will post -0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several research reports. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Evercore ISI raised their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Susquehanna raised their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, TD Cowen raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.98.

Read Our Latest Stock Report on JBLU

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of JetBlue Airways in the third quarter worth $5,311,000. Bogart Wealth LLC lifted its stake in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after buying an additional 4,000 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of JetBlue Airways by 397.9% in the third quarter. International Assets Investment Management LLC now owns 82,623 shares of the transportation company’s stock worth $542,000 after buying an additional 66,028 shares during the last quarter. Jade Capital Advisors LLC lifted its stake in shares of JetBlue Airways by 800.0% in the third quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock worth $2,952,000 after buying an additional 400,000 shares during the last quarter. Finally, Resonant Capital Advisors LLC acquired a new stake in shares of JetBlue Airways in the third quarter worth $67,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

(Get Free Report)

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.

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