JetBlue Airways (NASDAQ:JBLU) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

JetBlue Airways Corporation (NASDAQ:JBLU) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.15 and traded as high as $5.53. JetBlue Airways shares last traded at $5.45, with a volume of 29,545,361 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Tuesday, April 21st. Citigroup increased their price target on JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday, June 26th. BMO Capital Markets began coverage on JetBlue Airways in a report on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target on the stock. The Goldman Sachs Group boosted their price objective on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $5.31.

JetBlue Airways Stock Up 0.6%

The firm’s 50 day simple moving average is $5.30 and its 200 day simple moving average is $5.15. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -2.81 and a beta of 1.73. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted ($0.59) EPS. Sell-side analysts anticipate that JetBlue Airways Corporation will post -2.39 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director owned 13,379 shares of the company’s stock, valued at $62,881.30. This trade represents a 72.61% decrease in their position. The SEC filing for this sale provides additional information. 2.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its position in shares of JetBlue Airways by 0.6% during the fourth quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock worth $1,488,000 after purchasing an additional 1,928 shares during the period. Vident Advisory LLC boosted its position in shares of JetBlue Airways by 20.2% in the 4th quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 2,226 shares during the period. Essex Financial Services Inc. boosted its position in shares of JetBlue Airways by 12.4% in the 4th quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 2,599 shares during the period. Cetera Investment Advisers boosted its position in shares of JetBlue Airways by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 2,954 shares during the period. Finally, Amundi increased its stake in JetBlue Airways by 8.9% in the 1st quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.