Spirit Airlines Inc (NYSE:SAVE) shares, rose in value, with the stock price down by -2.55% to the previous day’s close as strong demand from buyers drove the stock to $4.58.
Actively observing the price movement in the last trading, the stock closed the session at $4.70. The value of beta (5-year monthly) was 1.37. Referring to stock’s 52-week performance, its high was $18.44, and the low was $3.93. On the whole, SAVE has fluctuated by -16.27% over the past month.
With the market capitalization of Spirit Airlines Inc currently standing at about $501.42 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.42, which is expected to increase to $0.15 for fiscal year -$2.63 and then to about -$1.47 by fiscal year 2025. Data indicates that the EPS growth is expected to be 20.10% in 2025, while the next year’s EPS growth is forecast to be 44.10%.
Analysts have estimated the company’s revenue for the quarter at $1.27 billion, with a low estimate of $1.27 billion and a high estimate of $1.28 billion. According to the average forecast, sales growth in current quarter could jump down -6.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.69 billion, representing an increase of 6.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SAVE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SAVE currently trading nearly -1.17% and -20.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.82, while the 7-day volatility ratio is showing 6.50% which for the 30-day chart, stands at 7.20%. Furthermore, Spirit Airlines Inc (SAVE)’s beta value is 1.35, and its average true range (ATR) is 0.36.
A comparison of Spirit Airlines Inc (SAVE) with its peers suggests the former has fared considerably weaker in the market. SAVE showed an intraday change of -2.55% in last session, and over the past year, it shrunk by -71.67%%.
Data on historical trading for Spirit Airlines Inc (NYSE:SAVE) indicates that the trading volumes over the past 10 days have averaged 5.38 million and over the past 3 months, they’ve averaged 17.39 million. According to company’s latest data on outstanding shares, there are 109.26 million shares outstanding.
Nearly 1.06% of Spirit Airlines Inc’s shares belong to company insiders and institutional investors own 59.73% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 26.49 million shares as on Mar 15, 2024, resulting in a short ratio of 3.6. According to the data, the short interest in Spirit Airlines Inc (SAVE) stood at 24.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 23.93 million. The stock has fallen by -71.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SAVE stock heading into the next quarter.
