In a filing, Frontier Group Holdings Inc revealed its CEO Biffle Barry unloaded Company’s shares for reported $0.12 million on Mar 06 ’24. In the deal valued at $8.21 per share,15,000 shares were sold. As a result of this transaction, Biffle Barry now holds 48,949 shares worth roughly $0.36 million.
Then, Biffle Barry sold 151,620 shares, generating $1,170,506 in total proceeds. Upon selling the shares at $7.72, the CEO now owns 772,981 shares.
Before that, Biffle Barry sold 142,154 shares. Frontier Group Holdings Inc shares valued at $1,049,097 were divested by the CEO at a price of $7.38 per share. As a result of the transaction, Biffle Barry now holds 772,981 shares, worth roughly $5.7 million.
UBS initiated its Frontier Group Holdings Inc [ULCC] rating to a Neutral in a research note published on March 20, 2024; the price target was $8. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early February has reiterated a ‘”a Market perform”‘ rating for it. BofA Securities also remained covering ULCC and has decreased its forecast on January 09, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on January 08, 2024. It rated ULCC as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of ULCC
On Monday, Frontier Group Holdings Inc [NASDAQ:ULCC] saw its stock jump 3.51% to $7.38. Over the last five days, the stock has gained 2.64%. Frontier Group Holdings Inc shares have risen nearly 35.16% since the year began. Nevertheless, the stocks have fallen -21.99% over the past one year. While a 52-week high of $10.57 was reached on 03/06/24, a 52-week low of $3.19 was recorded on 01/17/24. SMA at 50 days reached $7.08, while 200 days put it at $6.26. A total of 1.26 million shares were traded, compared to the trading of 1.57 million shares in the previous session.
Levels Of Support And Resistance For ULCC Stock
The 24-hour chart illustrates a support level at 7.20, which if violated will result in even more drops to 7.02. On the upside, there is a resistance level at 7.54. A further resistance level may holdings at 7.70. The Relative Strength Index (RSI) on the 14-day chart is 51.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.96%. Stochastics %K at 32.27% indicates the stock is a holding.
How much short interest is there in Frontier Group Holdings Inc?
A steep rise in short interest was recorded in Frontier Group Holdings Inc stocks on Mar 15, 2024, dropping by -1.24 million shares to a total of 11.54 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 12.78 million shares. There was a decline of -10.75%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 27.12% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.49.
