Spirit Airlines Inc [NYSE: SAVE] loss -18.18% or -0.24 points to close at $1.08 with a heavy trading volume of 25188832 shares.
The daily chart for SAVE points out that the company has recorded -71.58% loss over the past six months.
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If we look at the average trading volume of 11.90M shares, SAVE reached to a volume of 25188832 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 $1.40 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 4.71. 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 0.43, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.02. The Price to Book ratio for the last quarter was 0.15, with the Price to Cash per share for the same quarter was set at 10.72.
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 -60.00. With this latest performance, SAVE shares dropped by -28.95% in over the last four-week period, additionally sinking by -71.58% over the last 6 months – not to mention a drop of -89.95% 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 34.81, with the RSI for the last a single of trading hit 29.65, and the three-weeks RSI is set at 37.61 for Spirit Airlines Inc [SAVE]. The present Moving Average for the last 50 days of trading for this stock 2.2714, while it was recorded at 2.0660 for the last single week of trading, and 3.5747 for the last 200 days.
Spirit Airlines Inc [SAVE]: A deeper dive into fundamental analysis
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.
An analysis of Institutional ownership at Spirit Airlines Inc [SAVE]
There are presently around $44.17%, or 44.55%% 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%.
