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

JetBlue Airways Co. (NASDAQ:JBLU) saw unusually large options trading activity on Friday. Stock investors bought 85,847 call options on the company. This represents an increase of approximately 536% compared to the typical daily volume of 13,502 call options.

Institutional Trading of JetBlue Airways

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways in the 1st quarter worth about $25,000. Trust Co. of Vermont bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in shares of JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $34,000. Finally, Point72 DIFC Ltd bought a new position in JetBlue Airways during the 2nd quarter valued at approximately $48,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on JBLU shares. StockNews.com raised JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Evercore ISI raised their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $6.00 in a research report on Monday, September 9th. TD Cowen raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, Susquehanna upped their price target on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.80.

JetBlue Airways Stock Up 8.6 %

Shares of NASDAQ JBLU opened at $8.05 on Friday. The firm has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $5.92. The firm has a market capitalization of $2.74 billion, a PE ratio of -3.26 and a beta of 1.92. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. JetBlue Airways has a 12 month low of $3.42 and a 12 month high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business posted $0.45 earnings per share. JetBlue Airways’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that JetBlue Airways will post -0.91 earnings per share for the current year.

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.