Azul (NYSE:AZUL) Shares Gap Down – What’s Next?

Azul S.A. (NYSE:AZUL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.65, but opened at $1.61. Azul shares last traded at $1.62, with a volume of 117,513 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AZUL. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective on the stock. in a research note on Thursday, September 5th. Hsbc Global Res raised Azul to a “hold” rating in a research report on Thursday, September 5th. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group cut their target price on shares of Azul from $3.60 to $3.10 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.46.

Azul Trading Down 3.0 %

The company has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $3.37. The stock has a market capitalization of $674.51 million, a PE ratio of -0.23 and a beta of 1.92.

Institutional Investors Weigh In On Azul

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares during the period. Inspire Advisors LLC lifted its stake in shares of Azul by 20.1% in the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares during the period. Marshall Wace LLP boosted its holdings in Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after buying an additional 575,344 shares in the last quarter. Long Focus Capital Management LLC boosted its holdings in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda grew its position in Azul by 13,831.7% during the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after buying an additional 290,465 shares during the period. Institutional investors and hedge funds 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.