Azul (NYSE:AZUL) Trading Down 4.8% – What’s Next?

Azul S.A. (NYSE:AZUL) shares were down 4.8% during mid-day trading on Wednesday . The stock traded as low as $2.58 and last traded at $2.59. Approximately 812,396 shares were traded during trading, a decline of 58% from the average daily volume of 1,951,244 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AZUL shares. Hsbc Global Res raised shares of Azul to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.70 to $4.00 in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Seaport Res Ptn cut shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Barclays reduced their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Stock Down 4.0 %

The business’s fifty day simple moving average is $2.96 and its two-hundred day simple moving average is $3.89. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -0.36 and a beta of 1.99.

Institutional Trading of Azul

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZUL. Creative Planning acquired a new stake in Azul during the third quarter worth approximately $35,000. Signaturefd LLC raised its holdings in Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Azul during the third quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new stake in Azul during the second quarter worth approximately $51,000. Finally, Inspire Advisors LLC grew its position in shares of Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares during the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

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.