The stock of JetBlue Airways Corporation (NASDAQ:JBLU) is now priced at $11.97 and the shares are 0.37 points up or 3.19% higher compared to its previous closing price of $11.6. The stock had 7.617 million contracts set over the past session. JBLU shares’ daily volume is compared to its average trading volume at 0.015 billion shares. However, it has a float of 270 million and although its performance was 13.35% over the week, it’s one to watch. Analysts have given the JBLU stock a yearly average price target of $12.08 per share. It means the stock’s upside potential is 0.92% with the JBLU share price recently placing at $11.59 to $12.045. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the JetBlue Airways Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the JBLU shares have declined. Short interest in the stock represents just 6.61% of its float, but the volume has dropped by -1216532. The volume of shorted shares dropped to 17.844 million from 19.061 million shares over the last two weeks. The average intraday trading volume has been 10.701 million shares, which means that days to cover moved to roughly 1.667496.
In the last trading session, JetBlue Airways Corporation (NASDAQ:JBLU) raised by $1.41 over the week and gained $1.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.65. The stock recorded its established 52-week high on 02/14/20.
Since 03/23/20, the stock has traded to a low of $6.61 at 81.09%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.4. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, JetBlue Airways Corporation’s two-week RSI is 62.15. This suggests that the stock is neutral at the moment and that JBLU shares’ price movement remains stable. The stochastic readings are equally revealing at 57.88% meaning the JBLU share price is currently in neutral territory.
The technical chart shows that the JBLU stock will likely settle at between $12.15 and $12.32 per share. However, if the stock dips below $11.69, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.41.
Currently, the stock is trading in the green of MACD, with a reading of 0.36. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned JBLU a rating of Buy in their intiating review released on June 17. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight while keeping its target price at $11 in a flash note released to investors on June 10. BofA/Merrill seeing the improvements upgraded the stock from Underperform to Neutral on June 08.
The average rating for the JBLU equity is 2.88 and is currently gathering a bullish momentum. Of 16 analysts tracking JetBlue Airways Corporation polled by Reuters, 10 rated JBLU as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the JBLU stock price is 99.75X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for JetBlue Airways Corporation (NASDAQ:JBLU) will increase by about 119.47%, which will see them reach $472 million. The company’s full-year revenues are, however, expected to diminish by about -61.43%, down from $8090 million to $3120 million. JBLU’s expected adjusted earnings should drop almost -454.24% to end up at -$2.09 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -410% to record -$5.89/share.