Azul (NYSE:AZUL) Trading Down 4.8% – Here’s Why

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

Analysts Set New Price Targets

Several research firms have recently commented on AZUL. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Barclays decreased their target price on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Hsbc Global Res raised Azul to a “hold” rating in a report on Thursday, September 5th. Seaport Res Ptn lowered Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, HSBC lowered Azul from a “buy” rating to a “hold” rating and set a $2.70 target price on the stock. in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.59.

Azul Trading Down 4.0 %

The company has a market cap of $1.10 billion, a price-to-earnings ratio of -0.37 and a beta of 1.99. The stock has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $3.87.

Institutional Investors Weigh In On Azul

Institutional investors have recently bought and sold shares of the stock. Creative Planning bought a new stake in shares of Azul during the 3rd quarter worth about $35,000. Signaturefd LLC increased its stake in shares of Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares during the period. Ground Swell Capital LLC bought a new stake in Azul during the third quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new stake in Azul in the second quarter worth approximately $51,000. Finally, Inspire Advisors LLC boosted its stake in Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares in the last quarter. Institutional investors and hedge funds 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.