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.
Will ULCC Stock Go Up?
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.
ULCC Price Action: According to Benzinga Pro, Frontier shares are up 3.22% at $5.60 at the time of publication Friday.