Hawaiian (NASDAQ:HA) Shares Gap Down Following Weak Earnings

Shares of Hawaiian Holdings, Inc. (NASDAQ:HA) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.90, but opened at $12.48. Hawaiian shares last traded at $12.53, with a volume of 272,039 shares trading hands.

The transportation company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($2.75) by ($0.02). The business had revenue of $645.57 million for the quarter, compared to analyst estimates of $629.24 million. Hawaiian had a negative return on equity of 207.99% and a negative net margin of 10.90%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned ($2.17) EPS.

Wall Street Analysts Forecast Growth

Separately, Susquehanna reduced their price target on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday.

Hedge Funds Weigh In On Hawaiian

Institutional investors have recently added to or reduced their stakes in the company. Mutual Advisors LLC bought a new position in Hawaiian during the 3rd quarter valued at about $642,000. Jump Financial LLC raised its stake in shares of Hawaiian by 129.0% in the third quarter. Jump Financial LLC now owns 112,953 shares of the transportation company’s stock worth $715,000 after acquiring an additional 63,620 shares during the last quarter. Barclays PLC raised its stake in shares of Hawaiian by 96.3% in the third quarter. Barclays PLC now owns 128,061 shares of the transportation company’s stock worth $812,000 after acquiring an additional 62,835 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hawaiian by 191.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 134,620 shares of the transportation company’s stock worth $852,000 after acquiring an additional 88,402 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Hawaiian in the fourth quarter worth about $79,000. 70.15% of the stock is owned by institutional investors.

Hawaiian Stock Performance

The company has a market capitalization of $628.42 million, a P/E ratio of -2.10 and a beta of 2.39. The company has a debt-to-equity ratio of 16.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $13.54 and its two-hundred day simple moving average is $11.18.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.