Azul (NYSE:AZUL) Shares Gap Up – Still a Buy?

Azul S.A. (NYSE:AZUL) shares gapped up before the market opened on Monday . The stock had previously closed at $1.82, but opened at $1.94. Azul shares last traded at $2.01, with a volume of 928,994 shares traded.

Analysts Set New Price Targets

AZUL has been the topic of several analyst reports. Raymond James dropped their target price on 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 research note on Thursday, January 16th. Finally, The Goldman Sachs Group cut their price objective 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.40.

Azul Trading Up 1.9 %

The firm has a market cap of $781.59 million, a P/E ratio of -0.26 and a beta of 2.00. The business’s 50-day moving average is $2.00 and its two-hundred day moving average is $2.64.

Institutional Investors Weigh In On Azul

Several large investors have recently made changes to their positions in AZUL. Inspire Advisors LLC grew its holdings in Azul by 16.6% in the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after buying an additional 6,844 shares in the last quarter. Van ECK Associates Corp boosted its position in Azul by 16.3% during the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after acquiring an additional 8,899 shares during the period. Two Sigma Securities LLC grew its stake in shares of Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after purchasing an additional 9,038 shares in the last quarter. Creative Planning acquired a new position in shares of Azul during the third quarter valued at $35,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Azul during the third quarter valued at about $44,000. Institutional investors and hedge funds 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.