Spirit Airlines Inc [SAVE] fell -40.21% so far this year. What now?

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Spirit Airlines Inc [NYSE: SAVE] price plunged by -3.17 percent to reach at -$0.36. The company report on October 27, 2023 at 3:30 PM that Paradise is Calling: U.S. Travelers Gain Daily, Low-Fare Flights to Tulum’s New Airport with Spirit Airlines.

Nonstop flights from Fort Lauderdale and Orlando begin March 2024 with introductory fares starting at $149 one-way*.

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A sum of 3867483 shares traded at recent session while its average daily volume was at 2.21M shares. Spirit Airlines Inc shares reached a high of $11.3993 and dropped to a low of $10.88 until finishing in the latest session at $10.99.

The one-year SAVE stock forecast points to a potential upside of 35.35. The average equity rating for SAVE stock is currently 3.09, trading closer to a bullish pattern in the stock market.

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Guru’s Opinion on 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 $17.00 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 3.09. 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.

Deutsche Bank have made an estimate for Spirit Airlines Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 20, 2022.

The Average True Range (ATR) for Spirit Airlines Inc is set at 0.75, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.22. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 9.61.

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SAVE Stock Performance Analysis:

Spirit Airlines Inc [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.27. With this latest performance, SAVE shares dropped by -34.38% in over the last four-week period, additionally sinking by -27.84% over the last 6 months – not to mention a drop of -45.78% 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 20.23, with the RSI for the last a single of trading hit 14.52, and the three-weeks RSI is set at 24.61 for Spirit Airlines Inc [SAVE]. The present Moving Average for the last 50 days of trading for this stock 15.63, while it was recorded at 11.18 for the last single week of trading, and 16.87 for the last 200 days.

Insight into Spirit Airlines Inc Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Spirit Airlines Inc [SAVE] shares currently have an operating margin of -2.61 and a Gross Margin at +0.90. Spirit Airlines Inc’s Net Margin is presently recorded at -10.93.

Return on Total Capital for SAVE is now -1.76, given the latest momentum, and Return on Invested Capital for the company is -7.88. Return on Equity for this stock declined to -30.07, with Return on Assets sitting at -5.66. When it comes to the capital structure of this company, Spirit Airlines Inc [SAVE] has a Total Debt to Total Equity ratio set at 393.93. Additionally, SAVE Total Debt to Total Capital is recorded at 79.75, with Total Debt to Total Assets ending up at 60.38. Long-Term Debt to Equity for the company is recorded at 359.88, with the Long-Term Debt to Total Capital now at 72.86.

Reflecting on the efficiency of the workforce at the company, Spirit Airlines Inc [SAVE] managed to generate an average of -$49,892 per employee. Receivables Turnover for the company is 25.33 with a Total Asset Turnover recorded at a value of 0.52.Spirit Airlines Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 0.91.

Spirit Airlines Inc [SAVE] Institutonal Ownership Details

The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in SAVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in SAVE stock with ownership which is approximately 5.7994%.

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