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Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares are trading higher Friday after the airline said it was pausing sales at noon Friday to watch the Roaring Kitty livestream. Here's a look at what's going on.
The Details:
Frontier changed its website's homepage Friday morning to show a banner that read, "We love animals, especially kittens. Pausing sales at 12ET to watch Roaring Kitty." The page also displayed an image of a cat with a red headband, like Roaring Kitty's, on an airplane tail.
Frontier shares spiked on above-average trading volume around noon to $5.85, the same time Roaring Kitty's livestream was scheduled to begin. Shares have given back some of the gains, but remain about 3% higher at the time of publication.
According to data from Benzinga Pro, Frontier shares are trading below the stock’s 50-day moving average of $6.33 and 26.62% of available shares are being sold short.
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When trying to assess whether or not Frontier Group Holdings will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $8.50 on Frontier Group Holdings. The Street high target is currently at $9.0 and the Street low target is $8. Of all the analysts covering Frontier Group Holdings, one has positive ratings, 2 have neutral ratings and no one has negative ratings.
In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Frontier Group Holdings have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Frontier Group Holdings is 40.22% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Frontier Group Holdings, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
ULCC Price Action: According to Benzinga Pro, Frontier shares are up 3.22% at $5.60 at the time of publication Friday.
Image: miezekieze from Pixabay
Posted In: ULCC
