Mesa Air Group (NASDAQ:RJET) Shares Down 5.1% – Here’s Why

by · The Cerbat Gem

Mesa Air Group, Inc. (NASDAQ:RJET – Get Free Report) traded down 5.1% during trading on Wednesday . The company traded as low as $18.26 and last traded at $18.50. 14,791 shares were traded during trading, a decline of 78% from the average session volume of 65,750 shares. The stock had previously closed at $19.50.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RJET. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mesa Air Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Mesa Air Group has a consensus rating of “Sell”.

Read Our Latest Report on Mesa Air Group

Mesa Air Group Stock Performance

The company’s 50 day simple moving average is $20.54 and its 200-day simple moving average is $19.17. The firm has a market capitalization of $499.11 million, a PE ratio of -2.96 and a beta of 1.75.

Hedge Funds Weigh In On Mesa Air Group

A number of institutional investors have recently added to or reduced their stakes in the business. Pinnacle Holdings LLC boosted its position in shares of Mesa Air Group by 31.8% during the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after acquiring an additional 392,878 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Mesa Air Group in the third quarter valued at approximately $56,000. Par Capital Management Inc. bought a new stake in Mesa Air Group during the second quarter valued at approximately $2,091,000. Finally, Orvieto Partners L.P. purchased a new position in Mesa Air Group in the 2nd quarter worth approximately $444,000. 13.34% of the stock is currently owned by institutional investors.

Mesa Air Group Company Profile

(Get Free Report)

Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.

Mesa Airlines is the company’s primary regional carrier.

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