SAVE Stock Summary and Trading Ideas (Spirit Airlines | NYSE:SAVE)

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Spirit Airlines trades on the NYSE stock market under the symbol SAVE.

As of April 18, 2024, SAVE stock price declined to $4.03 with 4,242,537 million shares trading.

SAVE has a beta of 0.28, meaning it tends to be less sensitive to market movements. SAVE has a correlation of 0.00 to the broad based SPY ETF.

SAVE has a market cap of $441.20 million. This is considered a Small Cap stock.

Last quarter Spirit Airlines reported $1 billion in Revenue and -$1.36 earnings per share. This beat revenue expectation by $2 million and exceeded earnings estimates by $.10.

In the last 3 years, SAVE stock traded as high as $38.48 and as low as $3.96.

The top ETF exchange traded funds that SAVE belongs to (by Net Assets): VTI, VB, IWM, VXF, VBR.

SAVE has underperformed the market in the last year with a price return of -71.3% while the SPY ETF gained +22.3%. SAVE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -31.1% and -14.3%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

SAVE support price is $3.89 and resistance is $4.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SAVE stock will trade within this expected range on the day.