JetBlue Airways Corporation [JBLU] gain 30.25% so far this year. What now?

JetBlue Airways Corporation [NASDAQ: JBLU] surged by $0.2 during the normal trading session on Tuesday and reaching a high of $8.44 during the day while it closed the day at $8.44. The company report on January 13, 2023 that JetBlue Announces Record and Payment Dates for January 2023 Additional Prepayment to Spirit Stockholders.


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As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 (the “Merger Agreement”), by and among JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE), JetBlue has set January 25, 2023, as the record date for the January 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “January 2023 Additional Prepayment”), with payment of the January 2023 Additional Prepayment to occur on January 31, 2023. Pursuant to the Merger Agreement, Spirit stockholders as of the January 25, 2023, record date will be entitled to receive the January 2023 Additional Prepayment.

JetBlue Airways Corporation stock has also gained 15.46% of its value over the past 7 days. However, JBLU stock has inclined by 26.54% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.68% and gained 30.25% year-on date.

The market cap for JBLU stock reached $2.69 billion, with 323.90 million shares outstanding and 321.90 million shares in the current float. Compared to the average trading volume of 10.22M shares, JBLU reached a trading volume of 9754907 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about JetBlue Airways Corporation [JBLU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JBLU shares is $8.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JBLU stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for JetBlue Airways Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 15, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 05, 2022, representing the official price target for JetBlue Airways Corporation stock. Previously, the target price had yet another raise to $10, while BofA Securities analysts kept a Neutral rating on JBLU stock.

The Average True Range (ATR) for JetBlue Airways Corporation is set at 0.32, with the Price to Sales ratio for JBLU stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 6.56. Price to Free Cash Flow for JBLU in the course of the last twelve months was 72.80 with Quick ratio for the last quarter at 0.60.

JBLU stock trade performance evaluation

JetBlue Airways Corporation [JBLU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.46. With this latest performance, JBLU shares gained by 20.57% in over the last four-week period, additionally plugging by 2.68% over the last 6 months – not to mention a drop of -44.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JBLU stock in for the last two-week period is set at 73.54, with the RSI for the last a single of trading hit 83.75, and the three-weeks RSI is set at 66.51 for JetBlue Airways Corporation [JBLU]. The present Moving Average for the last 50 days of trading for this stock 7.45, while it was recorded at 8.06 for the last single week of trading, and 8.67 for the last 200 days.

JetBlue Airways Corporation [JBLU]: An insightful look at the core fundamentals

JetBlue Airways Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

JetBlue Airways Corporation [JBLU]: Insider Ownership positions

There are presently around $1,825 million, or 69.50% of JBLU stock, in the hands of institutional investors. The top three institutional holders of JBLU stocks are: VANGUARD GROUP INC with ownership of 30,459,166, which is approximately 2.711% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 26,891,103 shares of the stock with an approximate value of $226.96 million in JBLU stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $119.46 million in JBLU stock with ownership of nearly -3.034% of the company’s market capitalization.

Positions in JetBlue Airways Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 170 institutional holders increased their position in JetBlue Airways Corporation [NASDAQ:JBLU] by around 25,752,072 shares. Additionally, 179 investors decreased positions by around 52,674,864 shares, while 69 investors held positions by with 137,761,531 shares. The mentioned changes placed institutional holdings at 216,188,467 shares, according to the latest SEC report filing. JBLU stock had 48 new institutional investments in for a total of 6,997,450 shares, while 64 institutional investors sold positions of 6,816,905 shares during the same period.

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