JetBlue Airways Sees Unusually High Options Volume (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) saw some unusual options trading activity on Wednesday. Traders purchased 25,011 call options on the company. This represents an increase of 30% compared to the typical daily volume of 19,273 call options.

JetBlue Airways Price Performance

NASDAQ:JBLU traded up $0.07 on Wednesday, hitting $6.08. The company had a trading volume of 37,366,411 shares, compared to its average volume of 23,872,408. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.31. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -2.40 and a beta of 1.84. The firm has a 50 day moving average of $7.18 and a two-hundred day moving average of $6.43.

JetBlue Airways (NASDAQ:JBLU) last announced 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 net margin of 9.17% and a negative return on equity of 8.35%. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. On average, research analysts anticipate that JetBlue Airways will post -0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JBLU. The Goldman Sachs Group reiterated a “sell” rating and issued a $5.50 price target on shares of JetBlue Airways in a research note on Friday, November 15th. Bank of America reaffirmed an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a report on Friday, January 17th. UBS Group reduced their price objective on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley restated an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and an average price target of $6.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JBLU. Creative Planning lifted its holdings in JetBlue Airways by 46.9% during the 2nd quarter. Creative Planning now owns 84,062 shares of the transportation company’s stock worth $512,000 after buying an additional 26,834 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of JetBlue Airways by 11.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 62,331 shares of the transportation company’s stock worth $380,000 after acquiring an additional 6,179 shares during the period. Point72 Asset Management L.P. boosted its holdings in JetBlue Airways by 715.3% in the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after acquiring an additional 1,430,622 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways in the second quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in JetBlue Airways by 218.9% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,109 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 15,862 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.