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

JetBlue Airways Corporation (NASDAQ:JBLU) was the recipient of unusually large options trading on Thursday. Investors purchased 36,886 put options on the stock. This is an increase of approximately 45% compared to the typical volume of 25,481 put options.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $4.56 on Friday. The business has a fifty day moving average price of $5.33 and a 200-day moving average price of $4.96. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. The company has a market capitalization of $1.69 billion, a PE ratio of -2.73 and a beta of 1.72. JetBlue Airways has a 1-year low of $3.34 and a 1-year high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results 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). The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, equities analysts expect that JetBlue Airways will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after purchasing an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of JetBlue Airways during the fourth quarter valued at $30,000. Leonteq Securities AG bought a new stake in JetBlue Airways in the 4th quarter worth about $32,000. Bogart Wealth LLC raised 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 worth $35,000 after buying an additional 7,000 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in JetBlue Airways during the 4th quarter valued at about $41,000. 83.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen upped their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Morgan Stanley dropped their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. Citigroup raised shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective 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. Seven research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, JetBlue Airways presently has an average rating of “Reduce” and an average target price of $5.11.

About JetBlue Airways

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.