Azul (NYSE:AZUL) Shares Gap Down After Analyst Downgrade

Shares of Azul S.A. (NYSE:AZUL) gapped down before the market opened on Wednesday after Raymond James lowered their price target on the stock from $6.00 to $5.00. The stock had previously closed at $2.24, but opened at $2.16. Raymond James currently has an outperform rating on the stock. Azul shares last traded at $2.12, with a volume of 170,117 shares trading hands.

Several other research firms have also recently commented on AZUL. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their target price on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.40.

Hedge Funds Weigh In On Azul

A number of institutional investors have recently bought and sold shares of AZUL. Trellis Wealth Advisors LLC acquired a new position in Azul during the fourth quarter worth approximately $32,000. Creative Planning bought a new stake in shares of Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC bought a new stake in shares of Azul in the third quarter valued at approximately $44,000. Sanctuary Advisors LLC bought a new stake in shares of Azul in the second quarter valued at approximately $51,000. Finally, Van ECK Associates Corp boosted its stake in shares of Azul by 16.3% in the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after buying an additional 8,899 shares during the period. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Stock Down 6.5 %

The firm has a market capitalization of $883.19 million, a P/E ratio of -0.30 and a beta of 1.99. The firm has a 50 day moving average of $2.10 and a 200-day moving average of $2.85.

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.