Jetblue Airways Corp [NASDAQ: JBLU] traded at a low on Firday, posting a -3.10 loss after which it closed the day’ session at $7.19. The company report on March 4, 2024 at 8:30 AM that JetBlue Announces Termination of Merger Agreement with Spirit.
Positions JetBlue to focus on organic strategy and return to profitability.
JetBlue (NASDAQ: JBLU) today announced that it has reached an agreement with Spirit Airlines (NYSE: SAVE) to terminate their July 2022 merger agreement.
The results of the trading session contributed to over 18144691 shares changing hands. Over the past one week, the price volatility of Jetblue Airways Corp stands at 6.07% while the volatility over the past one month is 4.94%.
The market cap for JBLU stock reached $2.44 billion, with 339.00 million shares outstanding and 337.97 million shares in the current float. Compared to the average trading volume of 18.28M shares, JBLU reached a trading volume of 18144691 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Jetblue Airways Corp [JBLU]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JBLU shares is $5.52 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 3.20. 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.
Deutsche Bank have made an estimate for Jetblue Airways Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 20, 2024. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $6 to $3. The new note on the price target was released on January 09, 2024, representing the official price target for Jetblue Airways Corp stock. Previously, the target price had yet another raise to $3, while Exane BNP Paribas analysts kept a Underperform rating on JBLU stock.
The Average True Range (ATR) for Jetblue Airways Corp is set at 0.35, with the Price to Sales ratio for JBLU stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.73, with the Price to Cash per share for the same quarter was set at 4.62.
How has JBLU stock performed recently?
Jetblue Airways Corp [JBLU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.13. With this latest performance, JBLU shares gained by 26.81% in over the last four-week period, additionally plugging by 33.40% over the last 6 months – not to mention a drop of -10.79% 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 63.86, with the RSI for the last a single of trading hit 65.36, and the three-weeks RSI is set at 62.52 for Jetblue Airways Corp [JBLU]. The present Moving Average for the last 50 days of trading for this stock 5.91, while it was recorded at 7.08 for the last single week of trading, and 5.97 for the last 200 days.
Jetblue Airways Corp [JBLU]: Deeper insight into the fundamentals
Jetblue Airways Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.57 and a Current Ratio set at 0.60.
Earnings analysis for Jetblue Airways Corp [JBLU]
With the latest financial reports released by the company, Jetblue Airways Corp posted -0.34/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JBLU.
Insider trade positions for Jetblue Airways Corp [JBLU]
The top three institutional holders of JBLU stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in JBLU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in JBLU stock with ownership which is approximately 5.8325%.
