Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) shares saw unusually-strong trading volume on Friday . Approximately 46,036 shares were traded during trading, an increase of 56% from the previous session’s volume of 29,488 shares.The stock last traded at $20.10 and had previously closed at $20.60.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RJET shares. Weiss Ratings restated a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen raised Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Mesa Air Group Stock Down 4.2%

The business’s 50 day simple moving average is $21.01 and its 200 day simple moving average is $18.73. The stock has a market cap of $551.06 million, a price-to-earnings ratio of -3.26 and a beta of 1.69.

Hedge Funds Weigh In On Mesa Air Group

Institutional investors have recently bought and sold shares of the business. Par Capital Management Inc. bought a new position in shares of Mesa Air Group during the 2nd quarter worth approximately $2,091,000. Orvieto Partners L.P. acquired a new stake in Mesa Air Group during the 2nd quarter valued at $444,000. Pinnacle Holdings LLC boosted its position in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after purchasing an additional 392,878 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Mesa Air Group in the third quarter valued at $56,000. Institutional investors and hedge funds own 13.34% of the company’s stock.

About Mesa Air Group

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.