Ryanair (NASDAQ:RYAAY) Shares Gap Up – Here’s Why

Ryanair Holdings PLC (NASDAQ:RYAAY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $53.36, but opened at $56.43. Ryanair shares last traded at $56.8610, with a volume of 379,158 shares trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on RYAAY shares. Sanford C. Bernstein raised Ryanair from a “market perform” rating to an “outperform” rating in a report on Monday, April 13th. Evercore raised Ryanair from an “in-line” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 12th. Wall Street Zen downgraded Ryanair from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Erste Group Bank downgraded Ryanair from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ryanair in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.67.

Ryanair Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $59.22 and a two-hundred day simple moving average of $64.69. The stock has a market capitalization of $29.20 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.66 and a beta of 1.13.

Hedge Funds Weigh In On Ryanair

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Ryanair by 658.1% in the first quarter. Goldman Sachs Group Inc. now owns 992,245 shares of the transportation company’s stock valued at $42,041,000 after buying an additional 861,361 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Ryanair by 122.1% during the second quarter. American Century Companies Inc. now owns 13,011 shares of the transportation company’s stock worth $750,000 after acquiring an additional 7,152 shares during the period. CW Advisors LLC bought a new stake in shares of Ryanair during the second quarter worth approximately $263,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Ryanair by 99.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,013 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Ryanair in the second quarter valued at approximately $295,000. Institutional investors own 43.66% of the company’s stock.

About Ryanair

Ryanair Holdings plc is an Irish low-cost airline group headquartered in Dublin, Ireland. Founded in 1984, the company grew into one of Europe’s largest budget carriers by offering point-to-point scheduled passenger services with an emphasis on low fares, high aircraft utilization and rapid turnaround times. Ryanair serves a broad network across Europe and nearby regions, focusing on both intra-European leisure travel and short-haul business routes.

The group primarily operates a single-type fleet based on the Boeing 737 family, supplemented by a mix of in-house and subsidiary airlines that help serve different markets and regulatory environments.