Short Interest in JetBlue Airways Co. (NASDAQ:JBLU) Drops By 12.2%

JetBlue Airways Co. (NASDAQ:JBLU) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 52,870,000 shares, a decline of 12.2% from the January 15th total of 60,200,000 shares. Based on an average daily volume of 20,820,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 18.1% of the company’s stock are sold short.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock opened at $6.78 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The company has a market cap of $2.35 billion, a PE ratio of -2.90 and a beta of 1.83. The business has a 50 day moving average of $7.25 and a 200 day moving average of $6.46. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.29% and a negative net margin of 8.57%. During the same period in the previous year, the business earned ($0.19) EPS. As a group, equities research analysts forecast that JetBlue Airways will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America reissued an “underperform” rating and issued a $6.50 price objective on shares of JetBlue Airways in a research report on Friday, January 17th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Susquehanna lowered their target price on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. UBS Group decreased their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup upped their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.51.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the transaction, the director now directly owns 116,443 shares in the company, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JBLU. Bogart Wealth LLC grew its position in shares of JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways during the third quarter worth about $28,000. Blue Trust Inc. grew its position in shares of JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of JetBlue Airways during the fourth quarter worth about $40,000. Finally, R Squared Ltd purchased a new stake in shares of JetBlue Airways during the fourth quarter worth about $58,000. Institutional investors own 83.71% of the company’s stock.

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.