JetBlue Airways Co. (NASDAQ:JBLU) Sees Significant Decrease in Short Interest

JetBlue Airways Co. (NASDAQ:JBLU) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 62,580,000 shares, a drop of 9.4% from the August 31st total of 69,080,000 shares. Based on an average daily volume of 16,000,000 shares, the short-interest ratio is presently 3.9 days. Currently, 20.2% of the company’s shares are short sold.

Institutional Trading of JetBlue Airways

Several institutional investors have recently made changes to their positions in JBLU. Sage Rhino Capital LLC grew its holdings in JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock valued at $121,000 after buying an additional 1,788 shares in the last quarter. PDS Planning Inc grew its holdings in JetBlue Airways by 18.2% during the 1st quarter. PDS Planning Inc now owns 13,947 shares of the transportation company’s stock valued at $103,000 after buying an additional 2,148 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in JetBlue Airways by 3.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 58,330 shares of the transportation company’s stock valued at $324,000 after buying an additional 2,178 shares in the last quarter. GAMMA Investing LLC grew its holdings in JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after buying an additional 2,377 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in JetBlue Airways by 31.6% during the 1st quarter. EP Wealth Advisors LLC now owns 13,548 shares of the transportation company’s stock valued at $101,000 after buying an additional 3,255 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Cowen boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $3.00 to $6.00 in a research report on Monday, September 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

JetBlue Airways Stock Down 0.2 %

NASDAQ:JBLU traded down $0.01 during trading hours on Friday, reaching $6.42. 14,060,457 shares of the company traded hands, compared to its average volume of 15,337,767. JetBlue Airways has a 1 year low of $3.42 and a 1 year high of $7.58. The business’s 50-day moving average price is $5.50 and its two-hundred day moving average price is $5.94. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $2.18 billion, a P/E ratio of -2.60 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. JetBlue Airways’s revenue was down 8.0% on a year-over-year basis. Analysts predict that JetBlue Airways will post -1 earnings per share for the current year.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.