Azul (NYSE:AZUL) Trading Down 6.7% – Here’s Why

Azul S.A. (NYSE:AZUL) shares were down 6.7% during trading on Wednesday . The stock traded as low as $1.95 and last traded at $1.90. Approximately 191,533 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,375,986 shares. The stock had previously closed at $2.03.

Wall Street Analyst Weigh In

Several analysts have commented on AZUL shares. Raymond James lowered their price target 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 raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their price objective on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.40.

Azul Trading Down 4.0 %

The firm has a 50-day moving average of $2.00 and a 200 day moving average of $2.67. The stock has a market capitalization of $760.93 million, a price-to-earnings ratio of -0.25 and a beta of 2.00.

Hedge Funds Weigh In On Azul

Several hedge funds and other institutional investors have recently bought and sold shares of AZUL. Creative Planning acquired a new position in Azul during the 3rd quarter worth approximately $35,000. Ground Swell Capital LLC acquired a new position in shares of Azul in the 3rd quarter valued at approximately $44,000. Centiva Capital LP raised its position in shares of Azul by 205.3% in the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after purchasing an additional 135,365 shares in the last quarter. Jane Street Group LLC raised its position in shares of Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after purchasing an additional 75,291 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Azul in the 3rd quarter valued at approximately $614,000. 0.82% of the stock is owned by institutional investors and hedge funds.

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.