JetBlue Airways Target of Unusually High Options Trading (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) saw some unusual options trading activity on Wednesday. Stock traders acquired 22,185 call options on the stock. This represents an increase of approximately 33% compared to the average daily volume of 16,742 call options.

Analysts Set New Price Targets

JBLU has been the subject of several research analyst reports. Susquehanna upped their price target on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays increased their target price on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, TD Cowen increased their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.53.

JetBlue Airways Stock Performance

JBLU stock traded up $0.17 during trading hours on Thursday, reaching $7.11. The stock had a trading volume of 16,816,244 shares, compared to its average volume of 15,772,991. The stock has a market capitalization of $2.47 billion, a PE ratio of -2.81 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $5.89. JetBlue Airways has a fifty-two week low of $4.09 and a fifty-two week high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. JetBlue Airways’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) EPS. Analysts predict that JetBlue Airways will post -0.94 EPS for the current fiscal year.

Institutional Trading of JetBlue Airways

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in JetBlue Airways in the 1st quarter worth about $25,000. Bogart Wealth LLC raised its stake in JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in JetBlue Airways in the 3rd quarter worth about $28,000. Trust Co. of Vermont acquired a new stake in JetBlue Airways in the 2nd quarter worth about $27,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in JetBlue Airways in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.