Spirit Airlines Inc. [SAVE] Stock trading around $21.84 per share: What’s Next?


Spirit Airlines Inc. [NYSE: SAVE] closed the trading session at $21.84 on 03/22/22. The day’s price range saw the stock hit a low of $21.23, while the highest price level was $22.1694. The company report on March 16, 2022 that Las Vegas Travelers Hit Jackpot with Spirit Airlines’ Entrance Into Three New Western Markets.

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Spirit announces new service in Albuquerque (ABQ), Boise (BOI) and Reno (RNO) as its Las Vegas route map grows to 40+ nonstop destinations.

Spirit today announced an expansion out west with new service to Albuquerque International Sunport (ABQ), Boise Airport (BOI), and Reno-Tahoe International Airport (RNO). All three new markets will kick off service with daily nonstop flights to Harry Reid International Airport in Las Vegas (LAS) in August 2022.

The stocks have a year to date performance of -0.05 percent and weekly performance of 3.61 percent. The stock has been moved at -11.36 percent over the last six months. The stock has performed -11.90 percent around the most recent 30 days and changed 1.96 percent over the most recent 3-months.

If compared to the average trading volume of 5.91M shares, SAVE reached to a volume of 6161138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Spirit Airlines Inc. [SAVE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAVE shares is $31.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAVE stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on February 15, 2022. While these analysts kept the previous recommendation, Susquehanna dropped their target price from $31 to $25. The new note on the price target was released on January 13, 2022, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $25, while MKM Partners analysts kept a Neutral rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.43, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 13.17.

SAVE stock trade performance evaluation

Spirit Airlines Inc. [SAVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.61. With this latest performance, SAVE shares dropped by -11.90% in over the last four-week period, additionally sinking by -11.36% over the last 6 months – not to mention a drop of -38.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAVE stock in for the last two-week period is set at 47.96, with the RSI for the last a single of trading hit 49.82, and the three-weeks RSI is set at 47.69 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 23.00, while it was recorded at 21.76 for the last single week of trading, and 24.98 for the last 200 days.

Spirit Airlines Inc. [SAVE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Spirit Airlines Inc. [SAVE] shares currently have an operating margin of -13.35 and a Gross Margin at -9.25. Spirit Airlines Inc.’s Net Margin is presently recorded at -14.63.

Return on Equity for this stock declined to -21.66, with Return on Assets sitting at -5.16.

Spirit Airlines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Spirit Airlines Inc. [SAVE]: Insider Ownership positions

There are presently around $1,479 million, or 63.10% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 9,787,189, which is approximately 0.552% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 8,168,581 shares of the stock with an approximate value of $178.4 million in SAVE stocks shares; and APOLLO MANAGEMENT HOLDINGS, L.P., currently with $95.89 million in SAVE stock with ownership of nearly 48.344% of the company’s market capitalization.

Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 133 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 13,294,083 shares. Additionally, 116 investors decreased positions by around 15,110,091 shares, while 49 investors held positions by with 39,308,160 shares. The mentioned changes placed institutional holdings at 67,712,334 shares, according to the latest SEC report filing. SAVE stock had 53 new institutional investments in for a total of 4,554,189 shares, while 50 institutional investors sold positions of 4,171,215 shares during the same period.