MESA Stock Summary and Trading Ideas (Mesa Air Group | NASDAQ:MESA)

Mesa Air Group Inc is a regional air carrier providing scheduled passenger service. It provides scheduled passenger service to 86 cities in 36 states, the District of Columbia, Canada, Cuba, and Mexico as well as cargo services out of Cincinnati/Northern Kentucky International Airport. Flights are operated as American Eagle, United Express, or DHL Express flights to the terms of capacity purchase agreements with American and United and a flight services agreement with DHL. The business has a presence in domestic hubs and cities, including Dallas, Houston, Phoenix, and Washington-Dulles and other regions.

Mesa Air Group trades on the NASDAQ stock market under the symbol MESA.

As of May 3, 2024, MESA stock price declined to $0.89 with 482,600 million shares trading.

MESA has a beta of 3.69, meaning it tends to be more sensitive to market movements. MESA has a correlation of 0.19 to the broad based SPY ETF.

MESA has a market cap of $36.15 million. This is considered a Sub-Micro Cap stock.

Last quarter Mesa Air Group reported $114 million in Revenue and -$.64 earnings per share. This beat revenue expectation by $366,000 and missed earnings estimates by -$.49.

In the last 3 years, MESA stock traded as high as $11.70 and as low as $.40.

The top ETF exchange traded funds that MESA belongs to (by Net Assets): VTI, VXF, IWC.

MESA has underperformed the market in the last year with a return of -57.0%, while the SPY ETF gained +26.1%. In the last 3 month period, MESA fell short of the market, returning -3.0%, while SPY returned +3.7%. However, in the most recent 2 weeks MESA has outperformed the stock market by returning +3.5%, while SPY returned +2.4%.

MESA support price is $.87 and resistance is $.94 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MESA stock will trade within this expected range on the day.