JetBlue Airways (NASDAQ:JBLU) Sets New 52-Week Low – Should You Sell?

JetBlue Airways Co. (NASDAQ:JBLU) reached a new 52-week low on Monday . The company traded as low as $3.62 and last traded at $3.73, with a volume of 51212294 shares changing hands. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Bank of America cut their price objective on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a report on Thursday. UBS Group lowered their target price on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Seaport Res Ptn downgraded shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Citigroup upped their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.03.

JetBlue Airways Stock Performance

The stock’s 50 day moving average is $6.07 and its two-hundred day moving average is $6.61. The firm has a market capitalization of $1.45 billion, a P/E ratio of -1.76 and a beta of 1.69. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period last year, the company posted ($0.19) EPS. As a group, equities analysts anticipate that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the sale, the chief financial officer now owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in shares of JetBlue Airways by 399.6% in the third quarter. HighTower Advisors LLC now owns 107,246 shares of the transportation company’s stock valued at $704,000 after buying an additional 85,781 shares during the period. Stifel Financial Corp lifted its position in JetBlue Airways by 21.4% in the 3rd quarter. Stifel Financial Corp now owns 525,024 shares of the transportation company’s stock valued at $3,444,000 after acquiring an additional 92,468 shares in the last quarter. Weiss Asset Management LP acquired a new position in JetBlue Airways in the 3rd quarter worth $1,761,000. XTX Topco Ltd increased its holdings in JetBlue Airways by 186.4% during the 3rd quarter. XTX Topco Ltd now owns 106,910 shares of the transportation company’s stock worth $701,000 after purchasing an additional 69,584 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of JetBlue Airways in the 3rd quarter valued at about $1,973,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.