Azul (NYSE:AZUL) Stock Price Up 3.2% – Here’s Why

Azul S.A. (NYSE:AZUL)’s share price shot up 3.2% on Wednesday . The stock traded as high as $1.78 and last traded at $1.78. 261,583 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,902,011 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZUL. Raymond James reduced their price objective on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their price objective on Azul from $2.70 to $2.40 and set a “neutral” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.36.

Azul Stock Performance

The stock has a market capitalization of $709.50 million, a price-to-earnings ratio of -0.24 and a beta of 1.98. The company has a fifty day simple moving average of $1.98 and a two-hundred day simple moving average of $2.36.

Hedge Funds Weigh In On Azul

Hedge funds and other institutional investors have recently made changes to their positions in the company. Long Focus Capital Management LLC increased its stake in Azul by 18.0% in the fourth quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company’s stock valued at $9,908,000 after acquiring an additional 905,463 shares during the last quarter. Perpetual Ltd boosted its holdings in shares of 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 purchasing an additional 119,023 shares in the last quarter. Kapitalo Investimentos Ltda increased its stake in shares of Azul by 505.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 538,861 shares of the company’s stock valued at $900,000 after purchasing an additional 449,855 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after buying an additional 75,291 shares in the last quarter. Finally, Centiva Capital LP lifted its position in shares of Azul by 205.3% during the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after buying an additional 135,365 shares during the last quarter. 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.