In the past week, SAVE stock has gone down by -4.80%, with a monthly decline of -9.65% and a quarterly plunge of -70.17%. The volatility ratio for the week is 6.33%, and the volatility levels for the last 30 days are 7.00% for Spirit Airlines Inc The simple moving average for the past 20 days is 0.85% for SAVE’s stock, with a -62.76% simple moving average for the past 200 days.
Is It Worth Investing in Spirit Airlines Inc (NYSE: SAVE) Right Now?
The 36-month beta value for SAVE is at 1.36. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 4 rating it as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for SAVE is 108.31M, and currently, shorts hold a 24.46% of that float. The average trading volume for SAVE on April 08, 2024 was 17.42M shares.
SAVE) stock’s latest price update
The stock price of Spirit Airlines Inc (NYSE: SAVE) has surged by 4.02 when compared to previous closing price of 4.43, but the company has seen a -4.80% decline in its stock price over the last five trading sessions. Proactive Investors reported 2024-04-08 that Spirit Airlines shares moved higher on Monday after the airline announced it was deferring an Airbus Group (EPA:AIR) aircraft order to bolster liquidity following its terminated merger with JetBlue Airways (NASDAQ:JBLU) last month. The order, which was scheduled to be delivered in the second quarter of 2025 through to the end of 2026, will be pushed back to 2030 to 2031 which Spirit said would improve its liquidity position by approximately $340 million over the next two years.
Analysts’ Opinion of SAVE
Many brokerage firms have already submitted their reports for SAVE stocks, with Barclays repeating the rating for SAVE by listing it as a “Underweight.” The predicted price for SAVE in the upcoming period, according to Barclays is $4 based on the research report published on March 27, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see SAVE reach a price target of $5, previously predicting the price at $11. The rating they have provided for SAVE stocks is “Market Perform” according to the report published on January 22nd, 2024.
Citigroup gave a rating of “Sell” to SAVE, setting the target price at $4 in the report published on January 18th of the current year.
SAVE Trading at -17.93% from the 50-Day Moving Average
After a stumble in the market that brought SAVE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -75.02% of loss for the given period.
Volatility was left at 7.00%, however, over the last 30 days, the volatility rate increased by 6.33%, as shares sank -5.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -36.63% lower at present.
During the last 5 trading sessions, SAVE fell by -5.48%, which changed the moving average for the period of 200-days by -72.69% in comparison to the 20-day moving average, which settled at $4.56. In addition, Spirit Airlines Inc saw -71.10% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for SAVE
Current profitability levels for the company are sitting at:
- -0.09 for the present operating margin
- 0.11 for the gross margin
The net margin for Spirit Airlines Inc stands at -0.08. The total capital return value is set at -0.06. Equity return is now at value -33.07, with -4.25 for asset returns.
Based on Spirit Airlines Inc (SAVE), the company’s capital structure generated 0.86 points at debt to capital in total, while cash flow to debt ratio is standing at -0.04. The debt to equity ratio resting at 6.11. The interest coverage ratio of the stock is -3.83.
Currently, EBITDA for the company is -27.13 million with net debt to EBITDA at -301.97. When we switch over and look at the enterprise to sales, we see a ratio of 1.23. The receivables turnover for the company is 26.1for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.90.
Conclusion
In conclusion, Spirit Airlines Inc (SAVE) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
