Wizz Air (LON:WIZZ) Stock Price Down 26.6% - Here's Why

Wizz Air Holdings Plc (LON:WIZZ - Get Free Report)'s stock price traded down 26.6% on Thursday . The stock traded as low as GBX 1,195 ($16.23) and last traded at GBX 1,229 ($16.69). 42,303,773 shares changed hands during trading, an increase of 2,923% from the average session volume of 1,399,482 shares. The stock had previously closed at GBX 1,674 ($22.73).

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their target price on Wizz Air from GBX 2,300 ($31.23) to GBX 2,400 ($32.59) and gave the stock an "outperform" rating in a research report on Friday, March 28th.

Wizz Air Stock Performance

The stock has a fifty day moving average price of GBX 1,564.41 and a 200-day moving average price of GBX 1,503.27. The firm has a market capitalization of £1.49 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.47 and a beta of 2.28. 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.

Insiders Place Their Bets

In other news, insider Andrew S. Broderick acquired 595 shares of Wizz Air stock in a transaction dated Monday, April 14th. The stock was bought at an average price of GBX 1,414 ($19.20) per share, for a total transaction of £8,413.30 ($11,424.90). Corporate insiders own 25.73% of the company's stock.

Wizz Air Company Profile

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.