Following these proceedings, TD Cowen downgraded its Spirit Airlines Inc [SAVE] rating to a Sell from a a Hold in a research note published on July 17, 2024; the price target was decreased to $2 from $3. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who decreased its forecast for the stock in early July from “a Hold” to “a Sell”. Raymond James also remained covering SAVE and has decreased its forecast on July 05, 2024 with a “an Underperform” recommendation from previously “Mkt perform” rating. TD Cowen maintained its rating on May 07, 2024. It rated SAVE as “a Hold”.
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Price Performance Review of SAVE
On Tuesday, Spirit Airlines Inc [NYSE:SAVE] saw its stock fall -1.21% to $1.63. Over the last five days, the stock has lost -14.21%. Spirit Airlines Inc shares have fallen nearly -89.78% since the year began. Nevertheless, the stocks have fallen -89.27% over the past one year. While a 52-week high of $16.77 was reached on 01/02/24, a 52-week low of $1.40 was recorded on 10/04/24. SMA at 50 days reached $2.4230, while 200 days put it at $4.5399.
Levels Of Support And Resistance For SAVE Stock
The 24-hour chart illustrates a support level at 1.5906, which if violated will result in even more drops to 1.5512. On the upside, there is a resistance level at 1.6947. A further resistance level may holdings at 1.7594. The Relative Strength Index (RSI) on the 14-day chart is 27.54, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.3650, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.65%. Stochastics %K at 20.35% indicates the stock is a holding.
How much short interest is there in Spirit Airlines Inc?
A steep rise in short interest was recorded in Spirit Airlines Inc stocks on 2024-09-30, growing by 4.0 million shares to a total of 35.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 31.72 million shares. There was a rise of 11.19%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 16, 2024 when TD Cowen resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $4.
