Azul (NYSE:AZUL) Trading Down 4.8% – What’s Next?

Azul S.A. (NYSE:AZUL)’s stock price traded down 4.8% on Wednesday . The company traded as low as $2.58 and last traded at $2.59. 812,396 shares were traded during trading, a decline of 58% from the average session volume of 1,951,244 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.70 to $4.00 in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a report on Thursday, September 5th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Barclays dropped their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.59.

Azul Price Performance

The stock’s fifty day moving average is $2.96 and its 200-day moving average is $3.89. The stock has a market cap of $1.10 billion, a PE ratio of -0.36 and a beta of 1.99.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AZUL. Creative Planning purchased a new position in Azul during the third quarter worth about $35,000. Signaturefd LLC boosted its stake in Azul by 35.9% during the second 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. Ground Swell Capital LLC purchased a new position in Azul during the third quarter worth about $44,000. Sanctuary Advisors LLC purchased a new position in Azul during the second quarter worth about $51,000. Finally, Inspire Advisors LLC boosted its stake in Azul by 20.1% during the second 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. Hedge funds and other institutional investors own 0.82% of the company’s stock.

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.