- 1 The airline sector is declining because America and Spirit have cut their quarter guidance.
- 2 The company has not paid any dividends for many years.
JetBlue Airways Corporation, also known as JetBlue, is a U.S. airline company founded in 1998. The company has its headquarters in Long Island City. It also has its corporate offices in Utah and Florida. The company also has subsidiaries like JetBlue Travel Products and JetBlue Ventures. David Neeleman founded the company.
Airline stocks are declining due to economic concerns as investors fear rising interest rates and inflation. Fuel prices are also advancing, which is hurting the profits of airlines. The travel demand is rising in 2023, but the banks are failing. It is also creating a dilemma for investors.
Blackrock Inc. holds the most significant number of shares of the company, and the second largest shareholder is Vanguard Group Inc., with 10.08% of holdings. Institutions hold JetBlue’s 74.06% shares. The P/E ratio of the company is 45.20. It follows a debt/equity ratio of 125.15%. The following data is positive for the company.
The company has an EPS of 0.08 USD. It follows 333.25M shares floating in the market for trading. It leads to a market cap of $1.506B, which has declined in recent times. The beta for the JBLU share is 1.83, which means that the share moves more than the market as a whole.
JetBlue Airways Corporation Stock Performance Analysis
JetBlue Airways is in net loss for the year 2022. The company was negative by 4% on net, reporting a loss of -$362.00M. The company made a revenue of $9.16B in the year 2022. It leads to an advance in revenue, but the profit margin has declined. It also means that the expense of the company is rising. It can make the company unstable in the future.
Technical Overview of JBLU Stock
The technical indicators on the daily timeframe are indicating a sell signal. The experts are neutral on the stock considering the fundamentals and current market conditions.
JBLU Share Technical Analysis
The share price is following a negative market structure, declining from the higher levels. The share price has broken down below the rising wedge pattern formed inside the declining wedge pattern. It has led to a huge fall in price resulting in a bearish trend.
The JBLU stock has been declining from the higher levels, leading to a death cross on the charts. That makes the share price more bearish.
The RSI for the JBLU share has declined below the rising wedge pattern. Such a behavior of the RSI line indicates bearishness in the stock price.
Economic conditions are hitting the airline companies hard, leading to fear in investors. The JBLU share is also following a bearish market structure. The RSI and EMA are also giving a sell signal. The expense of the company is also advancing.
Therefore, the JetBlue share price can decline to lower levels in the upcoming days. The bearish momentum shows the potential to decline up to a level of $2.90. Hence, the investors must take a cautious approach towards the stock.
- Support levels for the JBLU share are – $2.90 and $4.00
- Resistance levels for the JBLU share are – $9.00 and $16.50
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.