Why Should You Put Spirit Airlines Inc (NYSE: SAVE) On Your Portfolio?

Currently, there are 109.26M common shares owned by the public and among those 108.45M shares have been available to trade.

The company’s stock has a 5-day price change of 3.40% and -21.17% over the past three months. SAVE shares are trading -77.10% year to date (YTD), with the 12-month market performance down to -77.29% lower. It has a 12-month low price of $3.18 and touched a high of $18.44 over the same period. SAVE has an average intraday trading volume of 6.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.73%, -1.24%, and -58.21% respectively.

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Institutional ownership of Spirit Airlines Inc (NYSE: SAVE) shares accounts for 41.47% of the company’s 109.26M shares outstanding.

It has a market capitalization of $399.68M and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$4.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.63% over the week and 5.74% over the month.

Earnings per share for the fiscal year are expected to decrease by -14.86%, and 44.26% over the next financial year.

Looking at the support for the SAVE, a number of firms have released research notes about the stock. TD Cowen stated their Hold rating for the stock in a research note on May 07, 2024, with the firm’s price target at $4-$3. TD Cowen coverage for the Spirit Airlines Inc (SAVE) stock in a research note released on April 16, 2024 offered a Hold rating with a price target of $4. Barclays was of a view on March 27, 2024 that the stock is Underweight, while TD Cowen gave the stock Market Perform rating on January 22, 2024, issuing a price target of $11- $5. Citigroup on their part issued Sell rating on January 18, 2024.

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