Mesa Air Group (NASDAQ:MESA) Trading 3.1% Higher – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:MESA)’s share price traded up 3.1% on Thursday . The stock traded as high as $1.35 and last traded at $1.35. 276,907 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 437,921 shares. The stock had previously closed at $1.31.

Mesa Air Group Trading Up 3.1 %

The firm’s 50-day simple moving average is $1.05 and its 200-day simple moving average is $1.22. The firm has a market capitalization of $55.77 million, a PE ratio of -0.59 and a beta of 3.08. The company has a quick ratio of 0.29, a current ratio of 0.45 and a debt-to-equity ratio of 2.13.

Mesa Air Group (NASDAQ:MESA) last released its earnings results on Wednesday, October 16th. The company reported ($0.23) earnings per share for the quarter. Mesa Air Group had a negative net margin of 19.86% and a negative return on equity of 32.45%. The company had revenue of $110.79 million during the quarter.

Institutional Trading of Mesa Air Group

A number of institutional investors have recently made changes to their positions in MESA. Regent Peak Wealth Advisors LLC purchased a new position in shares of Mesa Air Group in the third quarter worth $36,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Mesa Air Group by 47.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock valued at $44,000 after acquiring an additional 8,181 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Mesa Air Group by 69.9% during the second quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock valued at $57,000 after acquiring an additional 13,700 shares during the last quarter. Hedge funds and other institutional investors own 13.34% of the company’s stock.

About Mesa Air Group

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.