Azul (NYSE:AZUL) Trading Down 6.7% – What’s Next?

Azul S.A. (NYSE:AZUL) shares were down 6.7% during mid-day trading on Wednesday . The stock traded as low as $1.95 and last traded at $1.90. Approximately 191,533 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,375,986 shares. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AZUL shares. Raymond James cut their price target on shares of Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group cut their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.40.

Azul Stock Down 5.7 %

The firm’s 50 day simple moving average is $2.02 and its two-hundred day simple moving average is $2.69. The stock has a market cap of $807.31 million, a P/E ratio of -0.27 and a beta of 2.00.

Hedge Funds Weigh In On Azul

Several institutional investors have recently modified their holdings of AZUL. Long Focus Capital Management LLC grew its position in shares of Azul by 18.0% during the fourth quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company’s stock worth $9,908,000 after acquiring an additional 905,463 shares during the last quarter. Kapitalo Investimentos Ltda grew its position in shares of Azul by 505.4% during the fourth quarter. Kapitalo Investimentos Ltda now owns 538,861 shares of the company’s stock worth $900,000 after acquiring an additional 449,855 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Azul during the third quarter worth about $614,000. Centiva Capital LP grew its position in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after acquiring an additional 135,365 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Azul during the fourth quarter worth about $220,000. 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.