Jetblue Airways Corp (NASDAQ:JBLU) price on Wednesday, October 23, fall -2.58% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.18.
A look at the stock’s price movement, the close in the last trading session was $7.37, moving within a range at $7.105 and $7.47. The beta value (5-Year monthly) was 1.921. Turning to its 52-week performance, $8.07 and $3.42 were the 52-week high and 52-week low respectively. Overall, JBLU moved 19.67% over the past month.
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Jetblue Airways Corp’s market cap currently stands at around $2.49 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 2.33B for the company’s revenue for the quarter, with a low and high estimate of 2.26B and 2.37B respectively. The average forecast suggests down to a -0.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 9.26B, representing a -3.70% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that JBLU is a 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 3 recommend JBLU as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
JBLU’s current price about 2.81% and 20.35% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.23, while 7-day volatility ratio is 6.35% and 5.17% in the 30-day chart. Further, Jetblue Airways Corp (JBLU) has a beta value of 1.92, and an average true range (ATR) of 0.37. Analysts have given the company’s stock an average 52-week price target of $6.875, forecast between a low of $4.5 and high of $20. Looking at the price targets, the low is 37.33% off current price level while to achieve the yearly target high, price needs to move -178.55%. Nonetheless, investors will most likely welcome a 4.25% jump to $6.875 which is the analysts’ median price.
If we refocus on Jetblue Airways Corp (NASDAQ:JBLU), historical trading data shows that trading volumes averaged 14.09 over the past 10 days and 17.96 million over the past 3 months. The company’s latest data on shares outstanding shows there are 339.00 million shares.
The 10.44% of Jetblue Airways Corp’s shares are in the hands of company insiders while institutional holders own 79.16% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 53.96 million on 2024-09-30, giving us a short ratio of 3.22. The data shows that as of 2024-09-30 short interest in Jetblue Airways Corp (JBLU) stood at 2230.9999000000003 of shares outstanding, with shares short falling to 69.08 million registered in 2024-08-30. Current price change has pushed the stock 29.37% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the JBLU stock continues to rise going into the next quarter.
