Wizz Air (LON:WIZZ) Shares Down 27.1% - Here's What Happened

Wizz Air Holdings Plc (LON:WIZZ - Get Free Report) shares were down 27.1% on Thursday . The company traded as low as GBX 1,195 ($16.23) and last traded at GBX 1,220.88 ($16.58). Approximately 41,837,496 shares traded hands during mid-day trading, an increase of 2,899% from the average daily volume of 1,395,124 shares. The stock had previously closed at GBX 1,674 ($22.73).

Wall Street Analysts Forecast Growth

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

Wizz Air Stock Down 27.7%

The stock has a market cap of £1.49 billion, a PE ratio of 5.04, a P/E/G ratio of 0.47 and a beta of 2.28. The business has a 50 day moving average of GBX 1,564.41 and a 200-day moving average of GBX 1,503.27. 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 Buying and Selling at Wizz Air

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

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.