Spirit Airlines Inc (NYSE: SAVE)’s stock price has soared by 0.82 in relation to previous closing price of 3.68. Nevertheless, the company has seen a gain of 4.80% in its stock price over the last five trading days. InvestorPlace reported 2024-05-04 that Rising inflation pressures spooked equity markets in April. The S&P 500, for instance, shed more than 25% of its value, its worst month since last September.
Is It Worth Investing in Spirit Airlines Inc (NYSE: SAVE) Right Now?
Moreover, the 36-month beta value for SAVE is 1.39. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 4 as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for SAVE is 108.32M and currently, short sellers hold a 25.45% of that float. On May 06, 2024, SAVE’s average trading volume was 6.89M shares.
SAVE’s Market Performance
The stock of Spirit Airlines Inc (SAVE) has seen a 4.80% increase in the past week, with a -19.00% drop in the past month, and a -40.19% fall in the past quarter. The volatility ratio for the week is 5.91%, and the volatility levels for the past 30 days are at 6.51% for SAVE. The simple moving average for the last 20 days is -8.00% for SAVE’s stock, with a simple moving average of -66.80% for the last 200 days.
Analysts’ Opinion of SAVE
Many brokerage firms have already submitted their reports for SAVE stocks, with TD Cowen repeating the rating for SAVE by listing it as a “Hold.” The predicted price for SAVE in the upcoming period, according to TD Cowen is $4 based on the research report published on April 16, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see SAVE reach a price target of $4. The rating they have provided for SAVE stocks is “Underweight” according to the report published on March 27th, 2024.
TD Cowen gave a rating of “Market Perform” to SAVE, setting the target price at $5 in the report published on January 22nd of the current year.
SAVE Trading at -20.75% 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 -79.89% of loss for the given period.
Volatility was left at 6.51%, however, over the last 30 days, the volatility rate increased by 5.91%, as shares sank -16.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -42.57% lower at present.
During the last 5 trading sessions, SAVE rose by +4.80%, which changed the moving average for the period of 200-days by -80.41% in comparison to the 20-day moving average, which settled at $4.00. In addition, Spirit Airlines Inc saw -76.73% 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 1.21. 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
To wrap up, the performance of Spirit Airlines Inc (SAVE) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
