Mesa Air Group, Inc. (NASDAQ:MESA) Short Interest Down 24.9% in February

Mesa Air Group, Inc. (NASDAQ:MESA) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 244,100 shares, a drop of 24.9% from the February 13th total of 324,900 shares. Based on an average daily volume of 231,100 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Mesa Air Group

Several institutional investors have recently added to or reduced their stakes in MESA. Millennium Management LLC purchased a new stake in Mesa Air Group during the fourth quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in Mesa Air Group during the fourth quarter worth approximately $44,000. Federated Hermes Inc. lifted its stake in Mesa Air Group by 64.9% during the fourth quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock worth $76,000 after purchasing an additional 25,715 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Mesa Air Group by 50.4% during the fourth quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock worth $96,000 after purchasing an additional 27,614 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Mesa Air Group during the fourth quarter worth approximately $117,000. Hedge funds and other institutional investors own 13.34% of the company’s stock.

Mesa Air Group Price Performance

Shares of MESA opened at $0.96 on Monday. Mesa Air Group has a twelve month low of $0.75 and a twelve month high of $1.89. The firm’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.12. The firm has a market capitalization of $39.82 million, a price-to-earnings ratio of -0.42 and a beta of 3.07. The company has a current ratio of 0.45, a quick ratio of 0.29 and a debt-to-equity ratio of 2.13.

Mesa Air Group Company Profile

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.