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

Azul S.A. (NYSE:AZUL) gapped down before the market opened on Thursday . The stock had previously closed at $2.57, but opened at $2.51. Azul shares last traded at $2.56, with a volume of 178,402 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZUL. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Barclays lowered their price objective on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday, August 19th. The Goldman Sachs Group lowered 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 research report on Monday, September 23rd. HSBC downgraded Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a report on Thursday, September 5th. Finally, Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.59.

Azul Trading Up 1.2 %

The firm has a market cap of $1.08 billion, a PE ratio of -0.36 and a beta of 1.99. The company has a 50-day simple moving average of $2.99 and a 200 day simple moving average of $4.00.

Institutional Investors Weigh In On Azul

Hedge funds have recently modified their holdings of the company. Coronation Fund Managers Ltd. raised its holdings in Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after purchasing an additional 2,380 shares during the period. Signaturefd LLC raised its stake in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the period. Inspire Advisors LLC raised its stake in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 shares during the period. Marshall Wace LLP lifted its position in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares in the last quarter. Finally, Long Focus Capital Management LLC grew its stake in Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares during the period. 0.82% of the stock is owned by hedge funds and other 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.