Wizz Air (LON:WIZZ) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Wizz Air's stock price has fallen below its 200-day moving average, trading at GBX 1,162 ($15.57) after hitting a low of GBX 1,153.36 ($15.46).
• Analysts have downgraded Wizz Air's shares, with price targets reduced by firms such as Deutsche Bank and JPMorgan Chase & Co., now averaging GBX 1,250.
• The airline is noted for its sustainability, operating a fleet of over 220 Airbus A320 and A321 aircraft, serving around 62 million passengers in the financial year ending March 2024.

Wizz Air Holdings Plc (LON:WIZZ - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,346.47 ($18.05) and traded as low as GBX 1,153.36 ($15.46). Wizz Air shares last traded at GBX 1,162 ($15.57), with a volume of 305,226 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WIZZ shares. Deutsche Bank Aktiengesellschaft downgraded shares of Wizz Air to a "hold" rating and reduced their price target for the company from GBX 1,500 to GBX 1,400 in a research report on Friday, September 19th. Royal Bank Of Canada reduced their price target on shares of Wizz Air from GBX 1,300 to GBX 1,250 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Wizz Air from GBX 1,350 to GBX 1,100 and set a "neutral" rating for the company in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of GBX 1,250.

Wizz Air Stock Performance

The business's 50 day moving average price is GBX 1,292.81 and its two-hundred day moving average price is GBX 1,346.47. The company has a market capitalization of £1.20 billion, a price-to-earnings ratio of 652.81, a price-to-earnings-growth ratio of 0.47 and a beta of 2.28. The company has a debt-to-equity ratio of 1,582.50, a quick ratio of 0.82 and a current ratio of 0.98.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.