JetBlue Airways Sees Unusually High Options Volume (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the recipient of some unusual options trading on Tuesday. Traders bought 36,171 call options on the stock. This is an increase of approximately 77% compared to the average daily volume of 20,453 call options.

JetBlue Airways Price Performance

NASDAQ:JBLU opened at $5.07 on Wednesday. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $8.31. The stock’s fifty day moving average is $4.54 and its two-hundred day moving average is $4.67. The company has a market capitalization of $1.84 billion, a P/E ratio of -3.84 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned ($0.16) EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts expect that JetBlue Airways will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on JBLU. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. Morgan Stanley lowered their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. Citigroup initiated coverage on shares of JetBlue Airways in a report on Thursday, December 4th. They issued a “sell” rating and a $4.10 price objective for the company. Finally, Susquehanna raised their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Six investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.04.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares in the last quarter. Bogart Wealth LLC grew its position in JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 7,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in JetBlue Airways during the second quarter worth about $47,000. HUB Investment Partners LLC acquired a new stake in shares of JetBlue Airways during the second quarter worth about $45,000. Finally, Ballentine Partners LLC purchased a new position in shares of JetBlue Airways in the second quarter valued at approximately $48,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.