Traders Purchase High Volume of Call Options on JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the recipient of unusually large options trading activity on Wednesday. Investors bought 22,185 call options on the company. This represents an increase of approximately 33% compared to the typical volume of 16,742 call options.

JetBlue Airways Trading Up 9.8 %

JBLU traded up $0.62 during trading on Wednesday, reaching $6.94. 37,452,815 shares of the company’s stock were exchanged, compared to its average volume of 15,768,022. The company’s fifty day moving average price is $6.36 and its 200-day moving average price is $5.89. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. JetBlue Airways has a fifty-two week low of $4.09 and a fifty-two week high of $8.07. The firm has a market capitalization of $2.41 billion, a PE ratio of -2.75 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned ($0.39) EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that JetBlue Airways will post -0.94 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JBLU. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective 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. TD Cowen raised their price objective 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. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Citigroup raised their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.31.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in JetBlue Airways in the 1st quarter valued at $25,000. Trust Co. of Vermont bought a new stake in JetBlue Airways in the 2nd quarter valued at $27,000. Bogart Wealth LLC lifted its position 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 valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in JetBlue Airways in the 3rd quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways in the 2nd quarter valued at $34,000. 83.71% of the stock is owned by institutional investors.

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.