Spirit Airlines, Inc. (NYSE:SAVE - Get Free Report) was the target of some unusual options trading on Wednesday. Investors bought 62,279 put options on the stock. This represents an increase of 84% compared to the average volume of 33,898 put options.
NYSE SAVE opened at $1.08 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.86. The business has a fifty day simple moving average of $2.21 and a 200 day simple moving average of $2.86. Spirit Airlines has a 12 month low of $1.02 and a 12 month high of $17.02. The firm has a market capitalization of $118.28 million, a P/E ratio of -0.17 and a beta of 1.37.
A number of research firms have recently commented on SAVE. Susquehanna reduced their price objective on shares of Spirit Airlines from $2.25 to $1.50 and set a "negative" rating on the stock in a research note on Wednesday, October 9th. Citigroup decreased their target price on Spirit Airlines from $3.50 to $2.75 and set a "sell" rating for the company in a research report on Tuesday, July 23rd. TD Cowen reduced their price objective on Spirit Airlines from $2.00 to $1.00 and set a "sell" rating for the company in a research note on Wednesday, November 13th. Finally, Barclays decreased their price objective on Spirit Airlines from $3.00 to $0.50 and set an "underweight" rating for the company in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat, Spirit Airlines has a consensus rating of "Reduce" and a consensus target price of $2.00.
View Our Latest Report on Spirit Airlines
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. U S Global Investors Inc. purchased a new stake in Spirit Airlines during the third quarter worth about $28,816,000. Vanguard Group Inc. increased its stake in shares of Spirit Airlines by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,491,947 shares of the company's stock worth $50,781,000 after purchasing an additional 73,044 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Spirit Airlines by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 931,241 shares of the company's stock worth $2,235,000 after purchasing an additional 74,753 shares during the period. Federated Hermes Inc. lifted its stake in Spirit Airlines by 331.2% in the second quarter. Federated Hermes Inc. now owns 432,494 shares of the company's stock valued at $1,583,000 after purchasing an additional 332,188 shares during the last quarter. Finally, Roman Butler Fullerton & Co. grew its holdings in Spirit Airlines by 48.5% during the third quarter. Roman Butler Fullerton & Co. now owns 264,429 shares of the company's stock valued at $635,000 after purchasing an additional 86,396 shares during the period. Hedge funds and other institutional investors own 58.73% of the company's stock.
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
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