JetBlue Airways Sees Unusually Large Options Volume (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the target of some unusual options trading on Thursday. Investors bought 36,886 put options on the stock. This is an increase of approximately 45% compared to the typical volume of 25,481 put options.

JetBlue Airways Stock Performance

Shares of NASDAQ JBLU opened at $4.48 on Friday. The business’s 50-day simple moving average is $5.33 and its 200-day simple moving average is $4.95. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $6.50. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -2.68 and a beta of 1.72.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. As a group, equities research analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of JetBlue Airways

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings 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 worth $29,000 after acquiring an additional 5,049 shares during the period. Kestra Advisory Services LLC bought a new stake in JetBlue Airways during the fourth quarter valued at about $30,000. Bogart Wealth LLC boosted its holdings in JetBlue Airways by 12,727.3% during the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 7,000 shares during the period. Leonteq Securities AG acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $41,000. 83.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JBLU. The Goldman Sachs Group lifted their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. TD Cowen increased their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Susquehanna raised their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Morgan Stanley decreased their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. Seven analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, JetBlue Airways has a consensus rating of “Reduce” and an average target price of $5.11.

About JetBlue Airways

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.