Stock Traders Buy Large Volume of JetBlue Airways Call Options (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the target of unusually large options trading on Thursday. Traders purchased 41,399 call options on the company. This is an increase of 82% compared to the typical volume of 22,745 call options.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in 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 valued at $29,000 after acquiring an additional 5,049 shares during the period. Bogart Wealth LLC grew its stake in shares of JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after purchasing an additional 7,000 shares during the last quarter. HUB Investment Partners LLC acquired a new stake in JetBlue Airways in the second quarter valued at $45,000. Wealth Enhancement Advisory Services LLC bought a new position in JetBlue Airways during the 2nd quarter worth $47,000. Finally, Ballentine Partners LLC acquired a new position in JetBlue Airways during the 2nd quarter worth about $48,000. Institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JBLU. Citigroup reduced their price target on JetBlue Airways from $4.10 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, January 7th. Morgan Stanley cut their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. TD Cowen boosted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Susquehanna increased their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group upped their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average price target of $4.93.

JetBlue Airways Stock Down 2.0%

JetBlue Airways stock opened at $5.28 on Friday. The company’s 50-day moving average price is $4.77 and its two-hundred day moving average price is $4.74. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. The stock has a market cap of $1.92 billion, a P/E ratio of -4.00 and a beta of 1.78. JetBlue Airways has a twelve month low of $3.34 and a twelve month high of $8.21.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, analysts expect that JetBlue Airways will post -0.69 EPS for the current year.

JetBlue Airways Company Profile

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.