Wizz Air (LON:WIZZ) Shares Down 27.7% – Here’s What Happened

Shares of Wizz Air Holdings Plc (LON:WIZZ) were down 27.7% during trading on Friday . The company traded as low as GBX 1,195 ($16.17) and last traded at GBX 1,209.48 ($16.36). Approximately 6,614,458 shares traded hands 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 ($22.65).

Analyst Upgrades and Downgrades

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

Wizz Air Price Performance

The company has a market capitalization of £1.46 billion, a price-to-earnings ratio of 4.96, a price-to-earnings-growth ratio of 0.47 and a beta of 2.28. The company has a 50-day moving average price of GBX 1,554.02 and a 200-day moving average price of GBX 1,500.06. 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.

Insider Transactions at Wizz Air

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

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.