Wizz Air (LON:WIZZ) Shares Down 27.7% - Here's Why

Wizz Air Holdings Plc (LON:WIZZ - Get Free Report) dropped 27.7% during mid-day trading on Thursday . The company traded as low as GBX 1,195 ($16.23) and last traded at GBX 1,209.48 ($16.42). Approximately 6,614,458 shares were traded during mid-day trading, an increase of 521% from the average daily volume of 1,065,937 shares. The stock had previously closed at GBX 1,674 ($22.73).

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their price objective on shares of 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 Down 2.3%

The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 1,582.50. The stock's 50-day simple moving average is GBX 1,558.96 and its 200 day simple moving average is GBX 1,501.23. The firm has a market cap of £1.45 billion, a P/E ratio of 4.92, a PEG ratio of 0.47 and a beta of 2.28.

Insider Activity at Wizz Air

In related news, insider Andrew S. Broderick purchased 595 shares of the firm's stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of GBX 1,414 ($19.20) per share, with a total value of £8,413.30 ($11,424.90). 25.73% of the stock is owned by corporate 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.

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