Hawaiian (NASDAQ:HA) Shares Gap Down After Earnings Miss

Hawaiian Holdings, Inc. (NASDAQ:HA)’s share price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $12.90, but opened at $12.48. Hawaiian shares last traded at $12.53, with a volume of 272,039 shares.

The transportation company reported ($2.77) EPS for the quarter, missing analysts’ consensus estimates of ($2.75) by ($0.02). The business had revenue of $645.57 million during the quarter, compared to the consensus estimate of $629.24 million. Hawaiian had a negative return on equity of 171.49% and a negative net margin of 9.59%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.17) earnings per share.

Wall Street Analysts Forecast Growth

Separately, Susquehanna lowered their price target on Hawaiian from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Hedge Funds Weigh In On Hawaiian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new stake in Hawaiian during the first quarter valued at approximately $28,000. PenderFund Capital Management Ltd. acquired a new stake in Hawaiian during the fourth quarter valued at approximately $37,000. Oak Thistle LLC acquired a new position in shares of Hawaiian in the 3rd quarter worth approximately $66,000. PNC Financial Services Group Inc. boosted its holdings in shares of Hawaiian by 210.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock worth $78,000 after acquiring an additional 3,719 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of Hawaiian in the 4th quarter worth approximately $79,000. 70.15% of the stock is currently owned by institutional investors.

Hawaiian Stock Down 3.7 %

The firm has a market capitalization of $643.96 million, a price-to-earnings ratio of -2.46 and a beta of 2.39. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 16.74. The firm has a fifty day moving average price of $13.58 and a 200 day moving average price of $11.17.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.