Spirit Airlines Inc [NYSE: SAVE] traded at a low on Tuesday, posting a -5.43 loss after which it closed the day’ session at $2.44.
The results of the trading session contributed to over 4637671 shares changing hands. Over the past one week, the price volatility of Spirit Airlines Inc stands at 5.66% while the volatility over the past one month is 5.57%.
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The market cap for SAVE stock reached $267.23 million, with 109.26 million shares outstanding and 108.18 million shares in the current float. Compared to the average trading volume of 5.00M shares, SAVE reached a trading volume of 4637671 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $2.43 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 4.33. 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 Sell, with their previous recommendation back on July 17, 2024. While these analysts kept the previous recommendation, Deutsche Bank dropped their target price from $3 to $2. The new note on the price target was released on July 08, 2024, representing the official price target for Spirit Airlines Inc stock. On May 07, 2024, analysts decreased their price target for SAVE shares from 4 to 3.
The Average True Range (ATR) for Spirit Airlines Inc is set at 0.16, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.05. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 8.77.
How has SAVE stock performed recently?
Spirit Airlines Inc [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.61. With this latest performance, SAVE shares dropped by -11.59% in over the last four-week period, additionally sinking by -57.64% over the last 6 months – not to mention a drop of -84.39% 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 37.35, with the RSI for the last a single of trading hit 34.31, and the three-weeks RSI is set at 38.69 for Spirit Airlines Inc [SAVE]. The present Moving Average for the last 50 days of trading for this stock 2.94, while it was recorded at 2.56 for the last single week of trading, and 6.38 for the last 200 days.
Spirit Airlines Inc [SAVE]: Deeper insight into the fundamentals
Spirit Airlines Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.94 and a Current Ratio set at 0.94.
Earnings analysis for Spirit Airlines Inc [SAVE]
With the latest financial reports released by the company, Spirit Airlines Inc posted -1.37/share EPS, while the average EPS was predicted by analysts to be reported at -1.48/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.11. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAVE.
Insider trade positions for Spirit Airlines Inc [SAVE]
There are presently around $45.08%, or 45.47%% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: GRAHAM CAPITAL MANAGEMENT, L.P. with ownership of 8.52 million shares, which is approximately 7.7863%. BLACKROCK INC., holding 8.13 million shares of the stock with an approximate value of $$29.74 million in SAVE stocks shares; and BLACKROCK INC., currently with $$29.62 million in SAVE stock with ownership which is approximately 7.3951%.
