Azul (NYSE:AZUL) Reaches New 52-Week Low – Here’s What Happened

Shares of Azul S.A. (NYSE:AZUL) hit a new 52-week low on Monday . The stock traded as low as $1.65 and last traded at $1.65, with a volume of 49750 shares trading hands. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

AZUL has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on shares of Azul from $3.60 to $3.10 and set a “neutral” rating on the stock in a research report on Thursday. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, HSBC lowered Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.46.

Azul Price Performance

The company has a market cap of $689.27 million, a price-to-earnings ratio of -0.23 and a beta of 1.92. The firm’s 50-day moving average price is $2.60 and its 200-day moving average price is $3.43.

Hedge Funds Weigh In On Azul

A number of institutional investors and hedge funds have recently bought and sold shares of AZUL. Creative Planning purchased a new position in Azul in the 3rd quarter valued at about $35,000. Signaturefd LLC boosted its holdings in Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after purchasing an additional 2,812 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in Azul during the 3rd quarter valued at approximately $44,000. Sanctuary Advisors LLC purchased a new stake in Azul during the 2nd quarter worth approximately $51,000. Finally, Inspire Advisors LLC raised its position in shares of Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares in the last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.