Mesa Air Group (NASDAQ:MESA) Shares Up 4.4% – Here’s What Happened

Mesa Air Group, Inc. (NASDAQ:MESA) shares shot up 4.4% during trading on Tuesday . The stock traded as high as $1.03 and last traded at $1.02. 333,818 shares traded hands during trading, a decline of 48% from the average session volume of 642,566 shares. The stock had previously closed at $0.98.

Mesa Air Group Trading Up 4.4 %

The firm has a market capitalization of $42.14 million, a price-to-earnings ratio of -0.44 and a beta of 3.12. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29. The firm’s 50-day simple moving average is $1.02 and its 200 day simple moving average is $1.24.

Mesa Air Group (NASDAQ:MESA) last posted its earnings results on Wednesday, October 16th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $110.79 million for the quarter. Mesa Air Group had a negative return on equity of 32.45% and a negative net margin of 19.86%.

Institutional Investors Weigh In On Mesa Air Group

A number of hedge funds have recently added to or reduced their stakes in MESA. Virtu Financial LLC increased its position in Mesa Air Group by 207.3% in the first quarter. Virtu Financial LLC now owns 74,374 shares of the company’s stock worth $65,000 after buying an additional 50,174 shares during the last quarter. Regent Peak Wealth Advisors LLC purchased a new position in Mesa Air Group during the third quarter worth about $36,000. Renaissance Technologies LLC lifted its stake in shares of Mesa Air Group by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Mesa Air Group by 47.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock valued at $44,000 after acquiring an additional 8,181 shares during the last quarter. Institutional investors and hedge funds own 13.34% of the company’s stock.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.