Spirit Airlines Inc [NYSE: SAVE] stock went on an upward path that rose over 1.10% on Monday, amounting to a one-week price decrease of less than -1.07%.
Over the last 12 months, SAVE stock dropped by -73.93%. The one-year Spirit Airlines Inc stock forecast points to a potential downside of -6.34. The average equity rating for SAVE stock is currently 3.77, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $404.06 million, with 109.26 million shares outstanding and 108.45 million shares in the current float. Compared to the average trading volume of 6.91M shares, SAVE stock reached a trading volume of 7796628 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $3.47 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 3.77. 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.
TD Cowen have made an estimate for Spirit Airlines Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 07, 2024. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $5 to $4. The new note on the price target was released on April 16, 2024, representing the official price target for Spirit Airlines Inc stock. Previously, the target price had yet another raise to $4, while Barclays analysts kept a Underweight rating on SAVE stock. On January 22, 2024, analysts decreased their price target for SAVE shares from 11 to 5.
The Average True Range (ATR) for Spirit Airlines Inc is set at 0.28, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 0.40, with the Price to Cash per share for the same quarter was set at 9.24.
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 -1.07. With this latest performance, SAVE shares gained by 0.27% in over the last four-week period, additionally sinking by -74.24% over the last 6 months – not to mention a drop of -73.93% 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 45.13, with the RSI for the last a single of trading hit 45.75, and the three-weeks RSI is set at 43.34 for Spirit Airlines Inc [SAVE]. The present Moving Average for the last 50 days of trading for this stock 4.04, while it was recorded at 3.68 for the last single week of trading, and 10.20 for the last 200 days.
Insight into Spirit Airlines Inc Fundamentals:
Spirit Airlines Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 0.97.
Spirit Airlines Inc [SAVE] Institutonal Ownership Details
The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SAVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SAVE stock with ownership which is approximately 5.8386%.
