An analyst sees good growth prospects for Hawaiian Holdings Inc. (HA)

Hawaiian Holdings Inc. (NASDAQ: HA) stock jumped 0.88% on Thursday to $8.04 against a previous-day closing price of $7.97. With 0.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.32 million shares. During the session, the Airlines company that operates in wider Industrials sector, reached to the highest price of $8.14 whereas the lowest price it dropped to was $7.89. The 52-week range on HA shows that it touched its highest point at $18.25 and its lowest point at $7.34 during that stretch. It currently has a 1-year price target of $9.40. Beta for the stock currently stands at 1.93.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HA was down-trending over the past week, with a drop of -1.59%, but this was up by 1.64% over a month. Three-month performance dropped to -20.16% while six-month performance fell -41.78%. The stock lost -48.10% in the past year, while it has lost -21.64% so far this year. A look at the trailing 12-month EPS for HA yields -3.98 with Next year EPS estimates of 0.10. For the next quarter, that number is -0.67. This implies an EPS growth rate of -63.90% for this year and 102.70% for next year.

Float and Shares Shorts:

At present, 51.51 million HA shares are outstanding with a float of 50.17 million shares on hand for trading. On Apr 27, 2023, short shares totaled 6.78 million, which was 13.16% higher than short shares on Mar 30, 2023. In addition to Mr. Peter R. Ingram as the firm’s Pres, CEO & Director, Ms. Shannon Lei Okinaka serves as its Exec. VP, CFO & Treasurer.

Institutional Ownership:

Through their ownership of 79.46% of HA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.59% of HA, in contrast to 27.58% held by mutual funds. Shares owned by individuals account for 19.21%. As the largest shareholder in HA with 16.32% of the stake, BlackRock Fund Advisors holds 8,414,703 shares worth 8,414,703. A second-largest stockholder of HA, US Global Investors, Inc., holds 7,167,513 shares, controlling over 13.91% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in HA, holding 5,509,620 shares or 10.69% stake. With a 14.15% stake in HA, the US Global Jets ETF is the largest stakeholder. A total of 7,291,693 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 7.19% of HA stock, is the second-largest Mutual Fund holder. It holds 3,705,560 shares valued at 30.87 million. Vanguard Total Stock Market ETF holds 3.00% of the stake in HA, owning 1,548,316 shares worth 12.9 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, HA reported revenue of $691.87M and operating income of -$26.09M. The EBITDA in the recently reported quarter was -$13.91M and diluted EPS was -$0.92.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HA analysts setting a high price target of $12.00 and a low target of $8.00, the average target price over the next 12 months is $9.50. Based on these targets, HA could surge 49.25% to reach the target high and fall by -0.5% to reach the target low. Reaching the average price target will result in a growth of 18.16% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded HA stock several times over the past three months with 5 Buys and 1 Sells. In these transactions, 350,162 shares were bought while 3,000 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 395,795 while 90,544 shares were sold.

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