Mesa Air Group (NASDAQ:MESA) Stock Price Down 9.2% – Here’s Why

Shares of Mesa Air Group, Inc. (NASDAQ:MESA) fell 9.2% during mid-day trading on Wednesday . The stock traded as low as $1.04 and last traded at $1.09. 307,115 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 619,294 shares. The stock had previously closed at $1.20.

Mesa Air Group Price Performance

The stock has a 50-day moving average of $0.98 and a 200-day moving average of $1.24. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29. The firm has a market cap of $46.68 million, a price-to-earnings ratio of -0.49 and a beta of 3.14.

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

Institutional Trading of Mesa Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of MESA. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Mesa Air Group by 47.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,535 shares of the company’s stock valued at $44,000 after purchasing an additional 8,181 shares in the last quarter. Renaissance Technologies LLC boosted its position in Mesa Air Group by 69.9% during the 2nd quarter. Renaissance Technologies LLC now owns 33,300 shares of the company’s stock worth $57,000 after buying an additional 13,700 shares during the period. Finally, Regent Peak Wealth Advisors LLC bought a new stake in Mesa Air Group during the 3rd quarter worth approximately $36,000. 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.