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 108.18M shares have been available to trade.

The company’s stock has a 5-day price change of -60.00% and -62.37% over the past three months. SAVE shares are trading -93.23% year to date (YTD), with the 12-month market performance down to -89.95% lower. It has a 12-month low price of $1.13 and touched a high of $16.55 over the same period. SAVE has an average intraday trading volume of 11.90 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 -55.75%, -52.45%, and -69.73% respectively.

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Institutional ownership of Spirit Airlines Inc (NYSE: SAVE) shares accounts for 54.06% of the company’s 109.26M shares outstanding.

It has a market capitalization of $96.77M and a beta (3y monthly) value of 1.28. The earnings-per-share (ttm) stands at -$6.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 25.42% over the week and 15.92% over the month.

Earnings per share for the fiscal year are expected to decrease by -110.05%, and 29.04% 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 Sell rating for the stock in a research note on July 17, 2024, with the firm’s price target at $3-$2. Deutsche Bank coverage for the Spirit Airlines Inc (SAVE) stock in a research note released on July 08, 2024 offered a Sell rating with a price target of $2. Raymond James was of a view on July 05, 2024 that the stock is Underperform, while TD Cowen gave the stock Hold rating on May 07, 2024, issuing a price target of $4- $3. TD Cowen on their part issued Hold rating on April 16, 2024.

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