JetBlue Airways Co. (NASDAQ:JBLU) Sees Large Drop in Short Interest

JetBlue Airways Co. (NASDAQ:JBLUGet Free Report) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 37,000,000 shares, a drop of 6.8% from the December 31st total of 39,690,000 shares. Based on an average trading volume of 17,670,000 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of JBLU. Vanguard Group Inc. lifted its holdings in JetBlue Airways by 9.2% in the third quarter. Vanguard Group Inc. now owns 36,705,537 shares of the transportation company’s stock valued at $168,845,000 after acquiring an additional 3,099,071 shares during the period. Geode Capital Management LLC increased its position in shares of JetBlue Airways by 43.2% in the second quarter. Geode Capital Management LLC now owns 6,871,937 shares of the transportation company’s stock valued at $60,885,000 after buying an additional 2,072,683 shares in the last quarter. U S Global Investors Inc. increased its position in shares of JetBlue Airways by 24.2% in the fourth quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after buying an additional 1,903,910 shares in the last quarter. Invesco Ltd. increased its position in shares of JetBlue Airways by 107.2% in the third quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock valued at $15,925,000 after buying an additional 1,791,273 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of JetBlue Airways by 110.6% in the fourth quarter. Two Sigma Advisers LP now owns 3,148,600 shares of the transportation company’s stock valued at $20,403,000 after buying an additional 1,653,400 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JBLU. BNP Paribas downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a report on Friday, November 10th. Citigroup lowered their price target on JetBlue Airways from $7.50 to $5.75 and set a “neutral” rating for the company in a report on Monday, October 9th. StockNews.com started coverage on JetBlue Airways in a report on Thursday, October 5th. They issued a “sell” rating for the company. Bank of America downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $6.00 to $3.00 in a report on Tuesday, January 9th. Finally, Susquehanna decreased their target price on JetBlue Airways from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.96.

Get Our Latest Analysis on JetBlue Airways

JetBlue Airways Trading Up 1.3 %

Shares of NASDAQ:JBLU opened at $5.31 on Thursday. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45. The company has a market capitalization of $1.77 billion, a PE ratio of -9.48 and a beta of 1.80. The business has a 50 day moving average of $5.20 and a two-hundred day moving average of $5.35. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.09.

JetBlue Airways (NASDAQ:JBLUGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. JetBlue Airways had a negative return on equity of 0.46% and a negative net margin of 1.89%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the company posted $0.22 earnings per share. JetBlue Airways’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts forecast that JetBlue Airways will post -0.54 EPS for the current year.

JetBlue Airways Company Profile

(Get Free Report)

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

Further Reading

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