Hawaiian (NASDAQ:HA) Shares Gap Down After Earnings Miss

Hawaiian Holdings, Inc. (NASDAQ:HA)’s stock price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $12.90, but opened at $12.48. Hawaiian shares last traded at $12.53, with a volume of 272,039 shares.

The transportation company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($2.75) by ($0.02). Hawaiian had a negative return on equity of 171.49% and a negative net margin of 9.59%. The company had revenue of $645.57 million during the quarter, compared to analysts’ expectations of $629.24 million. During the same quarter last year, the business earned ($2.17) earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, Susquehanna reduced their price target on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday.

Institutional Investors Weigh In On Hawaiian

Large investors have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC bought a new stake in Hawaiian in the 1st quarter worth approximately $28,000. PenderFund Capital Management Ltd. bought a new stake in shares of Hawaiian during the 4th quarter valued at $37,000. Oak Thistle LLC bought a new stake in shares of Hawaiian during the 3rd quarter valued at $66,000. PNC Financial Services Group Inc. grew its position in shares of Hawaiian by 210.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 3,719 shares during the period. Finally, CVA Family Office LLC purchased a new position in shares of Hawaiian during the 4th quarter valued at $79,000. Institutional investors own 70.15% of the company’s stock.

Hawaiian Stock Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 16.74. The business’s 50 day moving average is $13.58 and its two-hundred day moving average is $11.17. The company has a market cap of $646.05 million, a PE ratio of -2.47 and a beta of 2.39.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.