Mesa Air Group, Inc. (NASDAQ:MESA) Sees Large Drop in Short Interest

Mesa Air Group, Inc. (NASDAQ:MESA) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 172,400 shares, a decrease of 29.4% from the February 28th total of 244,100 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 212,200 shares, the short-interest ratio is presently 0.8 days.

Mesa Air Group Stock Down 8.9 %

Mesa Air Group stock traded down $0.08 during trading on Friday, hitting $0.78. 260,571 shares of the company were exchanged, compared to its average volume of 268,318. The company has a current ratio of 0.45, a quick ratio of 0.29 and a debt-to-equity ratio of 2.13. The business’s 50 day moving average is $1.11 and its 200 day moving average is $1.10. Mesa Air Group has a 52 week low of $0.77 and a 52 week high of $1.89. The company has a market capitalization of $32.27 million, a P/E ratio of -0.34 and a beta of 3.07.

Institutional Investors Weigh In On Mesa Air Group

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new position in shares of Mesa Air Group during the 4th quarter valued at approximately $25,000. Federated Hermes Inc. lifted its stake in Mesa Air Group by 64.9% in the fourth quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock valued at $76,000 after purchasing an additional 25,715 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Mesa Air Group by 50.4% during the fourth quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock valued at $96,000 after purchasing an additional 27,614 shares during the period. Raymond James Financial Inc. purchased a new stake in Mesa Air Group in the fourth quarter worth $44,000. Finally, Pinnacle Holdings LLC raised its stake in shares of Mesa Air Group by 10.8% in the fourth quarter. Pinnacle Holdings LLC now owns 757,125 shares of the company’s stock valued at $878,000 after buying an additional 73,736 shares during the period. 13.34% of the stock is currently owned by institutional investors.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.