Short Interest in Spirit Airlines Increases By 54.1% (SAVE)
Shares of Spirit Airlines (NASDAQ:SAVE) were the recipient of a large growth in short interest in the month of June. As of June 13th, there was short interest totalling 3,006,731 shares, a growth of 54.1% from the May 30th total of 1,951,438 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 1,091,805 shares, the short-interest ratio is currently 2.8 days. Approximately 4.2% of the shares of the stock are short sold.
A number of research firms have recently commented on SAVE. Analysts at Raymond James raised their price target on shares of Spirit Airlines from $68.00 to $70.00 in a research note on Monday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Spirit Airlines in a research note on Friday, May 2nd. They now have a $67.00 price target on the stock. Finally, analysts at Imperial Capital raised their price target on shares of Spirit Airlines from $58.00 to $68.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.48.
Spirit Airlines (NASDAQ:SAVE) opened at 64.78 on Wednesday. Spirit Airlines has a 52-week low of $29.65 and a 52-week high of $65.07. The stock’s 50-day moving average is $60.27 and its 200-day moving average is $54.98. The company has a market cap of $4.712 billion and a price-to-earnings ratio of 25.21.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $438.00 million for the quarter, compared to the consensus estimate of $437.91 million. During the same quarter last year, the company posted $0.45 earnings per share. Spirit Airlines’s revenue was up 18.3% compared to the same quarter last year. Analysts expect that Spirit Airlines will post $2.95 EPS for the current fiscal year.
Spirit Airlines, Inc (NASDAQ:SAVE) is an airline company.
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