Wall Street Zen Downgrades Mesa Air Group (NASDAQ:MESA) to Sell

Mesa Air Group (NASDAQ:MESA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Mesa Air Group Stock Performance

Shares of NASDAQ:MESA opened at $1.04 on Friday. The company has a market capitalization of $42.99 million, a price-to-earnings ratio of -0.45 and a beta of 3.01. Mesa Air Group has a 12 month low of $0.68 and a 12 month high of $1.89. The firm’s 50-day moving average is $1.01 and its 200 day moving average is $1.08. The company has a current ratio of 0.45, a quick ratio of 0.29 and a debt-to-equity ratio of 2.13.

Hedge Funds Weigh In On Mesa Air Group

Hedge funds have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC boosted its position in Mesa Air Group by 8.4% in the 1st quarter. Pinnacle Holdings LLC now owns 820,953 shares of the company’s stock valued at $643,000 after buying an additional 63,828 shares during the period. Squarepoint Ops LLC purchased a new stake in Mesa Air Group in the 4th quarter valued at about $117,000. Renaissance Technologies LLC boosted its position in Mesa Air Group by 50.4% in the 4th quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock valued at $96,000 after buying an additional 27,614 shares during the period. Federated Hermes Inc. boosted its position in Mesa Air Group by 64.9% in the 4th quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock valued at $76,000 after buying an additional 25,715 shares during the period. Finally, GEM Asset Management LLC boosted its position in Mesa Air Group by 384.4% in the 1st quarter. GEM Asset Management LLC now owns 52,287 shares of the company’s stock valued at $42,000 after buying an additional 41,493 shares during the period. 13.34% of the stock is currently owned by institutional investors.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.