Azul (NYSE:AZUL) Shares Down 4.9% After Analyst Downgrade

Azul S.A. (NYSE:AZUL)’s stock price traded down 4.9% on Friday after The Goldman Sachs Group lowered their price target on the stock from $3.10 to $2.70. The Goldman Sachs Group currently has a neutral rating on the stock. Azul traded as low as $2.25 and last traded at $2.24. 835,223 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 1,222,674 shares. The stock had previously closed at $2.35.

Separately, Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.40.

Institutional Investors Weigh In On Azul

A number of hedge funds have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC boosted its stake 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 acquiring an additional 2,295,000 shares in the last quarter. Marshall Wace LLP raised its stake in Azul by 2,466.5% during the 2nd 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 during the period. SPX Gestao de Recursos Ltda boosted its holdings in Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after acquiring an additional 290,465 shares in the last quarter. XTX Topco Ltd acquired a new stake in Azul in the third quarter valued at approximately $614,000. Finally, Centiva Capital LP increased its holdings in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after acquiring an additional 135,365 shares in the last quarter. 0.82% of the stock is currently owned by institutional investors.

Azul Stock Down 5.3 %

The business has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $3.07. The company has a market capitalization of $938.00 million, a price-to-earnings ratio of -0.31 and a beta of 1.95.

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.