Short Interest in JetBlue Airways Co. (NASDAQ:JBLU) Drops By 5.8%

JetBlue Airways Co. (NASDAQ:JBLU) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 50,810,000 shares, a drop of 5.8% from the September 30th total of 53,960,000 shares. Based on an average daily trading volume, of 17,980,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 16.4% of the shares of the company are sold short.

JetBlue Airways Price Performance

JBLU stock opened at $5.77 on Friday. The company’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $5.91. The firm has a market cap of $2.00 billion, a P/E ratio of -2.29 and a beta of 1.92. The company has a quick ratio of 0.50, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. JetBlue Airways has a 12 month low of $3.76 and a 12 month high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the firm posted ($0.39) earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that JetBlue Airways will post -0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on JBLU shares. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Susquehanna increased their target price on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Citigroup upped their price objective on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised JetBlue Airways to a “sell” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and a consensus price target of $5.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of JetBlue Airways during the 1st quarter valued at approximately $25,000. Bogart Wealth LLC boosted its position in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after buying an additional 4,000 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of JetBlue Airways during the second quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the second quarter worth $34,000. Finally, GAMMA Investing LLC lifted its stake in shares of JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after acquiring an additional 2,993 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

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.