Azul (NYSE:AZUL) Stock Price Down 6.3% – Should You Sell?

Shares of Azul S.A. (NYSE:AZUL) fell 6.3% during trading on Monday . The company traded as low as $2.25 and last traded at $2.31. 628,885 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,291,617 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AZUL. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their target price on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Raymond James decreased their price target on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Azul presently has an average rating of “Hold” and a consensus price target of $5.40.

Azul Price Performance

The business has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $2.85. The stock has a market cap of $870.54 million, a PE ratio of -0.29 and a beta of 1.99.

Hedge Funds Weigh In On Azul

Institutional investors have recently added to or reduced their stakes in the company. Trellis Wealth Advisors LLC acquired a new stake in Azul in the fourth quarter worth about $32,000. Creative Planning acquired a new position in Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC bought a new position in Azul in the third quarter valued at approximately $44,000. Sanctuary Advisors LLC acquired a new stake in Azul during the 2nd quarter worth $51,000. Finally, Van ECK Associates Corp raised its position in shares of Azul by 16.3% during the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after acquiring an additional 8,899 shares during the last quarter. 0.82% of the stock is owned by institutional investors.

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.