Azul (NYSE:AZUL) Shares Gap Up to $3.84

Azul S.A. (NYSE:AZUL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.84, but opened at $4.03. Azul shares last traded at $4.07, with a volume of 185,166 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 target price on the stock. Raymond James reiterated an “outperform” rating and set a $12.00 price objective (down from $13.00) on shares of Azul in a research note on Monday, April 15th. Barclays dropped their price objective on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Finally, Bank of America reiterated an “underperform” rating and set a $9.50 price objective (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.12.

Azul Stock Up 5.7 %

The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -1.67 and a beta of 2.01. The company’s 50 day simple moving average is $5.41 and its two-hundred day simple moving average is $7.07.

Azul (NYSE:AZUL) last announced its earnings results on Monday, May 13th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The business had revenue of $945.00 million for the quarter, compared to the consensus estimate of $968.17 million. Analysts anticipate that Azul S.A. will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Azul

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Advisors LLC lifted its stake in shares of Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after buying an additional 3,042 shares during the period. Coronation Fund Managers Ltd. lifted its stake in shares of Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after buying an additional 3,450 shares during the period. AXQ Capital LP acquired a new stake in shares of Azul during the third quarter worth $205,000. Aigen Investment Management LP acquired a new stake in shares of Azul during the fourth quarter worth $214,000. Finally, Quantbot Technologies LP lifted its stake in shares of Azul by 310.0% during the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after buying an additional 24,054 shares during the period. 0.82% of the stock is currently owned by institutional investors and hedge funds.

Azul Company Profile

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.