Azul (NYSE:AZUL) Trading 6% Higher – Time to Buy?

Azul S.A. (NYSE:AZUL) rose 6% during trading on Thursday . The stock traded as high as $1.80 and last traded at $1.79. Approximately 875,981 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,933,803 shares. The stock had previously closed at $1.69.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AZUL shares. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. HSBC downgraded 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. The Goldman Sachs Group cut their target price on shares of Azul from $3.60 to $3.10 and set a “neutral” rating for the company in a research note on Thursday. Finally, Hsbc Global Res raised shares of Azul to a “hold” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued 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 $6.46.

Azul Trading Up 7.0 %

The company has a market capitalization of $762.58 million, a PE ratio of -0.25 and a beta of 1.92. The business’s 50-day simple moving average is $2.69 and its two-hundred day simple moving average is $3.51.

Institutional Trading of Azul

A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in 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 last quarter. Inspire Advisors LLC raised 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 acquiring an additional 3,764 shares during the period. Creative Planning acquired a new stake in Azul during the third quarter worth about $35,000. Ground Swell Capital LLC bought a new position in Azul in the third quarter worth about $44,000. Finally, Sanctuary Advisors LLC acquired a new position in Azul in the second quarter valued at approximately $51,000. 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.