Allegiant Travel Stock Falters Again

Allegiant Travel stock is at new lows after earnings

Oct 25, 2018 at 10:28 AM
facebook X logo linkedin


Allegiant Travel Company (NASDAQ:ALGT) is adding to its massive year-to-date losses after the company's earnings report. Earnings per share for the third quarter came in at 94 cents, lower than the average analyst estimate of 96 cents. As such, ALGT is trading down 6.6% at $107.86, pennies above the new four-year low it hit this morning, with Cowen jumping in with a price-target cut to $132 from $142.

The equity had already been in a massive decline this year, losing more than one-fourth of its value year-to-date even before today. Much of the selling began back in April when the airliner was thrown into the national spotlight by a damaging "60 Minutes" investigation. During the stock's decline the 50-day moving average has easily blocked any type of breakout attempt.

Not surprisingly, short interest is high on Allegiant Travel, accounting for almost 10% of the total float. Going by average daily trading volumes, it'd take short sellers more than a week to cover their positions. Some traders already started to cover their positions against ALGT, however, since short interest fell by more than 21% in the last two reporting periods.

It's also worth nothing that the equity still has a few bullish analysts in its corner, with four of the nine covering brokerage firms handing out "strong buy" recommendations. Going forward, it'll be worth monitoring if these bulls begin to lose hope in the struggling travel stock.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI