Mesa Air Group (NASDAQ:RJET) Sets New 12-Month Low – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) reached a new 52-week low on Wednesday . The company traded as low as $18.78 and last traded at $20.95, with a volume of 41569 shares traded. The stock had previously closed at $21.05.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Mesa Air Group Stock Performance

The firm has a market capitalization of $586.45 million, a PE ratio of -4.90 and a beta of 3.09. The company has a fifty day simple moving average of $21.25 and a two-hundred day simple moving average of $18.09.

Mesa Air Group (NASDAQ:RJET) last released its quarterly earnings data on Friday, November 21st. The company reported ($0.75) earnings per share for the quarter. Mesa Air Group had a negative net margin of 43.65% and a negative return on equity of 1,171.23%. The firm had revenue of $90.68 million during the quarter.

Hedge Funds Weigh In On Mesa Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of RJET. Pinnacle Holdings LLC raised its stake in Mesa Air Group by 31.8% in the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group in the 3rd quarter valued at $56,000. Par Capital Management Inc. purchased a new position in shares of Mesa Air Group in the 2nd quarter valued at $2,091,000. Finally, Orvieto Partners L.P. bought a new position in shares of Mesa Air Group in the 2nd quarter worth $444,000. 13.34% of the stock is currently owned by institutional investors.

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.