Azul (NYSE:AZUL) Sets New 52-Week Low – What’s Next?

Shares of Azul S.A. (NYSE:AZUL) reached a new 52-week low on Monday . The company traded as low as $1.47 and last traded at $1.49, with a volume of 148496 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on shares of Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Finally, Raymond James dropped their price objective on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.36.

Azul Stock Performance

The firm has a 50 day moving average of $1.89 and a two-hundred day moving average of $2.31. The stock has a market cap of $631.51 million, a P/E ratio of -0.21 and a beta of 1.59.

Institutional Trading of Azul

Several hedge funds have recently modified their holdings of AZUL. Jane Street Group LLC raised its position in shares of Azul by 58.9% during the third 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 period. XTX Topco Ltd bought a new stake in Azul in the 3rd quarter valued at $614,000. Perpetual Ltd grew its stake in Azul by 5.1% in the 4th 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 last quarter. Van ECK Associates Corp increased its stake in shares of Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after purchasing an additional 8,899 shares during the period. Finally, Trellis Wealth Advisors LLC bought a new stake in shares of Azul in the fourth quarter valued at about $32,000. 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.