Wizz Air (OTCMKTS:WZZZY) Stock Jumps 8.2% – Should You Buy?

Wizz Air Holdings Plc (OTCMKTS:WZZZY)’s share price traded up 8.2% during mid-day trading on Monday. The stock traded as high as $3.8075 and last traded at $3.8075. Approximately 365 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 829 shares. The stock had previously closed at $3.52.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup reissued a “neutral” rating on shares of Wizz Air in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Wizz Air in a research report on Monday, June 15th. Morgan Stanley downgraded shares of Wizz Air from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, August 12th. Barclays restated an “overweight” rating on shares of Wizz Air in a report on Monday, September 7th. Finally, Royal Bank Of Canada lowered shares of Wizz Air from an “outperform” rating to an “underperform” rating in a report on Friday, July 10th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Wizz Air currently has an average rating of “Reduce”.

Wizz Air Price Performance

The business’s 50-day moving average is $3.59 and its two-hundred day moving average is $3.50.

About Wizz Air

Wizz Air is a European ultra-low-cost airline group headquartered in Budapest, Hungary. Founded in 2003 and operating its first flight in 2004, the company focuses on providing affordable scheduled air transportation through a low-cost business model.

The group operates a primarily Airbus fleet and offers flights across a network connecting cities in Europe with destinations in the Middle East and North Africa. Its services include scheduled passenger flights, while ancillary offerings such as baggage, seat selection, onboard products and other travel-related services support its business model.

Wizz Air operates through airline entities including Wizz Air Hungary, Wizz Air UK and Wizz Air Malta, with bases in several European countries.