JetBlue Airways Target of Unusually Large Options Trading (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the target of some unusual options trading on Friday. Stock investors bought 34,124 call options on the stock. This represents an increase of 43% compared to the average volume of 23,856 call options.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the stock. U S Global Investors Inc. lifted its stake in shares of JetBlue Airways by 25.2% during the 2nd quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after buying an additional 1,011,279 shares in the last quarter. Samalin Investment Counsel LLC purchased a new position in shares of JetBlue Airways in the third quarter valued at about $1,129,000. Assenagon Asset Management S.A. lifted its position in shares of JetBlue Airways by 17.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,951,255 shares of the transportation company’s stock valued at $9,600,000 after acquiring an additional 291,758 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of JetBlue Airways by 372.1% in the third quarter. SG Americas Securities LLC now owns 485,945 shares of the transportation company’s stock worth $2,391,000 after acquiring an additional 383,018 shares during the period. Finally, Soviero Asset Management LP purchased a new stake in shares of JetBlue Airways during the second quarter worth about $2,369,000. 83.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. TD Cowen lifted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Susquehanna boosted their target price on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Morgan Stanley dropped 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 report on Monday, December 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Hold rating and five have given 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 $5.27.

JetBlue Airways Price Performance

NASDAQ JBLU opened at $6.36 on Friday. The company has a 50-day moving average price of $4.99 and a 200-day moving average price of $4.81. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $7.83. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $2.31 billion, a P/E ratio of -3.81 and a beta of 1.78.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative return on equity of 24.93% and a negative net margin of 6.64%.The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the business posted ($0.21) EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current year.

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.