The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Frontier Group Holdings Inc shares valued at $123,150 were sold by Biffle Barry on Mar 06 ’24. At $8.21 per share, Biffle Barry sold 15,000 shares. The insider’s holdings dropped to 48,949 shares worth approximately $0.39 million following the completion of this transaction.
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Also, Biffle Barry sold 151,620 shares, netting a total of over 1,170,506 in proceeds. Following the sale of shares at $7.72 each, the insider now holds 772,981 shares.
Before that, Biffle Barry had sold 142,154 shares from its account. In a trade valued at $1,049,097, the CEO traded Frontier Group Holdings Inc shares for $7.38 each. Upon closing the transaction, the insider’s holdings decreased to 142,154 shares, worth approximately $6.15 million.
As published in their initiating research note from UBS on March 20, 2024, Frontier Group Holdings Inc [ULCC] has been a Neutral and the price target has been revised to $8. Analysts at TD Cowen resumed the stock at ‘”a Market perform”‘ outlook in a report released in early February. As of January 09, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for ULCC. Earlier on January 08, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for ULCC stock which previously was a “an Overweight”.
Analyzing ULCC Stock Performance
During the last five days, there has been a surge of approximately 10.25%. Over the course of the year, Frontier Group Holdings Inc shares have jumped approximately 45.79%. Shares of the company reached a 52-week high of $8.33 on 03/06/24 and a 52-week low of $4.14 on 01/17/24. A 50-day SMA is recorded $6.73, while a 200-day SMA reached $6.34. Nevertheless, trading volume fell to 1.1 million shares from 3.0 million shares the previous day.
Support And Resistance Levels for Frontier Group Holdings Inc (ULCC)
According to the 24-hour chart, there is a support level at 7.70, which, if violated, would cause prices to drop to 7.44. In the upper region, resistance lies at 8.09. The next price resistance is at 8.22. RSI (Relative Strength Index) is 61.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 0.00%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Frontier Group Holdings Inc subject to short interest?
Stocks of Frontier Group Holdings Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.7 million shares to 12.34 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 14.04 million shares. A decline of -13.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.4 of the overall float, the days-to-cover ratio (short ratio) decline to 4.4.
