Mesa Air Group (NASDAQ:MESA) Stock Price Down 4.3% – Time to Sell?

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) traded down 4.3% during trading on Tuesday . The company traded as low as $1.11 and last traded at $1.11. 78,965 shares changed hands during trading, a decline of 36% from the average session volume of 123,098 shares. The stock had previously closed at $1.16.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Mesa Air Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th.

Mesa Air Group Stock Down 4.3%

The stock has a market capitalization of $46.46 million, a price-to-earnings ratio of -0.21 and a beta of 2.96. The business’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.06.

Hedge Funds Weigh In On Mesa Air Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in Mesa Air Group during the fourth quarter worth about $25,000. Federated Hermes Inc. boosted its holdings 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 purchasing an additional 25,715 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 27,614 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mesa Air Group in the 4th quarter valued at about $44,000. Finally, GEM Asset Management LLC boosted its holdings 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 purchasing an additional 41,493 shares during the last quarter. 13.34% of the stock is currently owned by institutional investors and hedge funds.

About Mesa Air Group

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.