Wizz Air (LON:WIZZ) Stock Price Down 22.5% – Time to Sell?

Wizz Air Holdings Plc (LON:WIZZ) traded down 22.5% on Thursday . The stock traded as low as GBX 1,230 ($16.64) and last traded at GBX 1,297 ($17.55). 40,066,773 shares were traded during mid-day trading, an increase of 2,806% from the average session volume of 1,378,575 shares. The stock had previously closed at GBX 1,674 ($22.65).

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price objective on Wizz Air from GBX 2,300 ($31.11) to GBX 2,400 ($32.47) and gave the company an “outperform” rating in a report on Friday, March 28th.

Wizz Air Price Performance

The firm has a market capitalization of £1.46 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 0.47 and a beta of 2.28. The company’s 50 day moving average is GBX 1,554.02 and its 200-day moving average is GBX 1,499.09. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 1,582.50.

Insider Activity

In other news, insider Andrew S. Broderick acquired 595 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were acquired at an average cost of GBX 1,414 ($19.13) per share, with a total value of £8,413.30 ($11,381.63). 25.73% of the stock is owned by company insiders.

About Wizz Air

Wizz Air, one of the most sustainable European airlines, operates a fleet of over 220 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 62 million passengers in the financial year ending 31 March 2024.