Azul (NYSE:AZUL) Trading Down 4.7% – Time to Sell?

Azul S.A. (NYSE:AZUL)’s share price was down 4.7% during mid-day trading on Thursday . The company traded as low as $2.34 and last traded at $2.35. Approximately 408,127 shares changed hands during trading, a decline of 68% from the average daily volume of 1,292,271 shares. The stock had previously closed at $2.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.40.

Azul Stock Down 1.5 %

The company has a market cap of $975.93 million, a P/E ratio of -0.33 and a beta of 1.95. The business has a 50-day moving average price of $2.13 and a two-hundred day moving average price of $3.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AZUL. Perpetual Ltd lifted its holdings in Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock valued at $4,132,000 after buying an additional 119,023 shares during the period. XTX Topco Ltd bought a new stake in shares of Azul during the 3rd quarter valued at $614,000. Jane Street Group LLC boosted its position in shares of Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the last quarter. Centiva Capital LP grew its stake in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after purchasing an additional 135,365 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in shares of Azul during the third quarter worth $44,000. 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.