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Mesa Air Group Inc . (NASDAQ:MESA) stock has experienced significant turbulence, touching down at a 52-week low of $0.77, marking a 59% decline from its 52-week high of $1.89. InvestingPro analysis suggests the stock is currently trading below Fair Value, though significant challenges remain. This latest price level reflects a challenging period for the airline, which has navigated through a complex landscape of operational and market pressures. The company faces significant headwinds with a concerning current ratio of 0.45 and substantial debt burden, as revealed by InvestingPro data. Over the past year, Mesa Air Group’s stock has seen a modest decline, with a 1-year change showing a decrease of -1.36%, while more recently experiencing a sharp 31% drop over the past six months. Investors are closely monitoring the company’s performance as it attempts to stabilize and ascend from this low altitude in the market. With revenue of $475.5 million in the last twelve months and an EBITDA of $31.7 million, the company trades at a low Price/Book multiple of 0.24, potentially offering value for investors willing to weather the turbulence.
In other recent news, Mesa Air Group has reported several significant developments. The company has finalized agreements to sell eighteen Embraer ERJ 175 aircraft to United Airlines, with eight sales completed by the end of 2024 and the remaining expected by January 31, 2025. This transaction is projected to bring in gross proceeds of $229.1 million. Additionally, Mesa Air has agreed to sell fifteen CRJ-900 airframes to an undisclosed buyer, which is expected to generate $19.0 million. In another update, Mesa Air received a compliance warning from Nasdaq due to a delay in filing its annual report for the fiscal year ending September 30, 2024. The company has been given 60 days to submit a plan to regain compliance, with potential extensions up to July 2025. Furthermore, Mesa Air has appointed CBIZ (NYSE:CBZ) CPAs P.C. as its new independent accounting firm following Marcum LLP’s resignation. This change was confirmed by the company’s Audit Committee and reflects ongoing adjustments in Mesa Air’s operational and financial strategies.
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