Spirit Airlines Inc (NYSE:SAVE) price on Friday, October 25, rose 15.29% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.79.
A look at the stock’s price movement, the close in the last trading session was $2.42, moving within a range at $2.75 and $3.3. The beta value (5-Year monthly) was 1.376. Turning to its 52-week performance, $16.55 and $1.40 were the 52-week high and 52-week low respectively. Overall, SAVE moved 13.41% over the past month.
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Spirit Airlines Inc’s market cap currently stands at around $305.56 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-25.
Analysts have a consensus estimate of 1.18B for the company’s revenue for the quarter, with a low and high estimate of 1.04B and 1.3B respectively. The average forecast suggests down to a -6.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.93B, representing a -8.10% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SAVE is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 6 recommend SAVE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 4 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SAVE’s current price about 38.46% and 19.05% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.97, while 7-day volatility ratio is 24.58% and 12.93% in the 30-day chart. Further, Spirit Airlines Inc (SAVE) has a beta value of 1.38, and an average true range (ATR) of 0.36. Analysts have given the company’s stock an average 52-week price target of $25, forecast between a low of $2 and high of $35. Looking at the price targets, the low is 28.32% off current price level while to achieve the yearly target high, price needs to move -1154.48%. Nonetheless, investors will most likely welcome a -796.06% jump to $25 which is the analysts’ median price.
If we refocus on Spirit Airlines Inc (NYSE:SAVE), historical trading data shows that trading volumes averaged 27.05 over the past 10 days and 8.43 million over the past 3 months. The company’s latest data on shares outstanding shows there are 109.26 million shares.
The 1.22% of Spirit Airlines Inc’s shares are in the hands of company insiders while institutional holders own 57.28% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 35.72 million on 2024-09-30, giving us a short ratio of 8.59. The data shows that as of 2024-09-30 short interest in Spirit Airlines Inc (SAVE) stood at 3284.9996999999994 of shares outstanding, with shares short rising to 31.72 million registered in 2024-08-30. Current price change has pushed the stock -82.50% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SAVE stock continues to rise going into the next quarter.
