Azul (NYSE:AZUL) Stock Price Up 10.1% – What’s Next?

Azul S.A. (NYSE:AZUL) rose 10.1% during mid-day trading on Monday . The stock traded as high as $1.64 and last traded at $1.64. Approximately 569,243 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,835,360 shares. The stock had previously closed at $1.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AZUL shares. Raymond James dropped their price target on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on shares of Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Finally, Seaport Res Ptn lowered Azul from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One investment 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.36.

Azul Stock Up 12.1 %

The company has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $2.24. The stock has a market capitalization of $704.02 million, a P/E ratio of -0.24 and a beta of 1.59.

Institutional Investors Weigh In On Azul

Several large investors have recently made changes to their positions in AZUL. Long Focus Capital Management LLC boosted its stake in Azul by 18.0% in the 4th quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company’s stock worth $9,908,000 after purchasing an additional 905,463 shares during the period. Kapitalo Investimentos Ltda boosted 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 buying an additional 449,855 shares during the period. Virtu Financial LLC bought a new position in shares of Azul during the fourth quarter worth about $220,000. Perpetual Ltd raised its position in Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock valued at $4,132,000 after buying an additional 119,023 shares during the last quarter. Finally, Fore Capital LLC bought a new stake in Azul in the 4th quarter valued at approximately $167,000. 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.