Spirit Airlines Inc. [SAVE] fell -25.17% so far this year. What now?



Spirit Airlines Inc. [NYSE: SAVE] loss -3.94% on the last trading session, reaching $16.35 price per share at the time. The company report on May 4, 2022 that Spirit Airlines Reports First Quarter 2022 Results.

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Spirit Airlines, Inc. (NYSE: SAVE) today reported first quarter 2022 financial results.

Ended the first quarter 2022 with $1.6 billion of unrestricted cash, cash equivalents, short-term investment securities and liquidity available under the Company’s revolving credit facility.

Spirit Airlines Inc. represents 113.84 million in outstanding shares, while the company has a total market value of $1.86 billion with the latest information. SAVE stock price has been found in the range of $15.92 to $16.64.

If compared to the average trading volume of 4.70M shares, SAVE reached a trading volume of 5076676 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $28.86 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.

Evercore ISI have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on April 06, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on February 15, 2022, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another drop from $31 to $25, while Susquehanna kept a Neutral rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.37, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 11.89.

Trading performance analysis for SAVE stock

Spirit Airlines Inc. [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.98. With this latest performance, SAVE shares dropped by -35.55% in over the last four-week period, additionally sinking by -32.33% over the last 6 months – not to mention a drop of -50.44% 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 22.95, with the RSI for the last a single of trading hit 16.46, and the three-weeks RSI is set at 28.93 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 22.48, while it was recorded at 17.47 for the last single week of trading, and 23.58 for the last 200 days.

Spirit Airlines Inc. [SAVE]: A deeper dive into fundamental analysis

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 1.10 and a Current Ratio set at 1.10.

An analysis of insider ownership at Spirit Airlines Inc. [SAVE]

There are presently around $1,182 million, or 64.00% 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 7,090,197 shares of the stock with an approximate value of $120.67 million in SAVE stocks shares; and APOLLO MANAGEMENT HOLDINGS, L.P., currently with $74.73 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 May and at the time of the May reporting period, where 130 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 16,876,754 shares. Additionally, 112 investors decreased positions by around 12,256,585 shares, while 47 investors held positions by with 40,298,871 shares. The mentioned changes placed institutional holdings at 69,432,210 shares, according to the latest SEC report filing. SAVE stock had 49 new institutional investments in for a total of 6,317,849 shares, while 47 institutional investors sold positions of 3,484,488 shares during the same period.