Spirit Airlines Inc (NYSE:SAVE) has a beta value of 1.40 and has seen 7.54 million shares traded in the last trading session. The company, currently valued at $176.33M, closed the last trade at $1.61 per share which meant it lost -$0.1 on the day or -5.85% during that session. The SAVE stock price is -941.61% off its 52-week high price of $16.77 and 13.04% above the 52-week low of $1.40. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.81 million shares traded. The 3-month trading volume is 5.24 million shares.
The consensus among analysts is that Spirit Airlines Inc (SAVE) is Buy stock at the moment, with a recommendation rating of 4.33. 4 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 11 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -2.22.
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Spirit Airlines Inc (NYSE:SAVE) trade information
Sporting -5.85% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the SAVE stock price touched $1.61 or saw a rise of 18.69%. Year-to-date, Spirit Airlines Inc shares have moved -89.90%, while the 5-day performance has seen it change -4.73%. Over the past 30 days, the shares of Spirit Airlines Inc (NYSE:SAVE) have changed -37.35%. Short interest in the company has seen 35.72 million shares shorted with days to cover at 8.59.
Wall Street analysts have a consensus price target for the stock at $25, which means that the shares’ value could jump 93.56% from current levels. The projected low price target is $2.0 while the price target rests at a high of $35.0. In that case, then, we find that the current price level is -2073.91% off the targeted high while a plunge would see the stock gain -24.22% from current levels.
Spirit Airlines Inc (SAVE) estimates and forecasts
Figures show that Spirit Airlines Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -61.48% over the past 6 months, with this year growth rate of -111.55%, compared to -18.10% for the industry. Revenue growth from the last financial year stood is estimated to be -7.50%.
9 analysts offering their estimates for the company have set an average revenue estimate of 1.19B for the current quarter. 9 have an estimated revenue figure of 1.21B for the next ending quarter. Year-ago sales stood 1.26B and 1.32B respectively for this quarter and the next, and analysts expect sales will shrink by -5.50% for the current quarter and -7.50% for the next.
SAVE Dividends
Spirit Airlines Inc is expected to release its next earnings report in November this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Spirit Airlines Inc (NYSE:SAVE)’s Major holders
Insiders own 0.86% of the company shares, while shares held by institutions stand at 47.30% with a share float percentage of 47.72%. Investors are also buoyed by the number of investors in a company, with Spirit Airlines Inc having a total of 253.0 institutions that hold shares in the company. The top two institutional holders are GRAHAM CAPITAL MANAGEMENT, L.P. with over 8.52 million shares worth more than $31.19 million. As of 2024-06-30, GRAHAM CAPITAL MANAGEMENT, L.P. held 7.7863% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 8.13 million shares as of 2024-06-30. The firm’s total holdings are worth over $29.74 million and represent 7.4261% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ETF Series Solutions-U.S. Global Jets ETF and Vanguard Total Stock Market Index Fund . As of Jun 30, 2024 , the former fund manager holds about 9.11% shares in the company for having 9.98 shares of worth $16.07 million while later fund manager owns 3.29 shares of worth $5.3 million as of Jun 30, 2024 , which makes it owner of about 3.00% of company’s outstanding stock.
