JetBlue Airways Co. (NASDAQ:JBLU) Short Interest Update

JetBlue Airways Co. (NASDAQ:JBLU) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 62,580,000 shares, a decline of 9.4% from the August 31st total of 69,080,000 shares. Approximately 20.2% of the shares of the company are sold short. Based on an average daily volume of 16,000,000 shares, the short-interest ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America raised shares of 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 note on Monday, September 9th. Citigroup increased their price target on shares of JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, TD Cowen boosted their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Four research 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.00.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in JetBlue Airways in the 1st quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in shares of JetBlue Airways during the second quarter valued at approximately $27,000. GAMMA Investing LLC boosted its position in JetBlue Airways by 169.8% during the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in JetBlue Airways in the 1st quarter worth approximately $30,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $6.56 on Tuesday. The business has a 50 day moving average price of $5.50 and a 200 day moving average price of $5.93. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The company has a market capitalization of $2.23 billion, a P/E ratio of -2.62 and a beta of 1.90. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $7.58.

JetBlue Airways (NASDAQ:JBLU) last released 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. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. Sell-side analysts expect that JetBlue Airways will post -1 EPS for the current fiscal 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.