Azul (NYSE:AZUL) Hits New 12-Month Low - Here's What Happened

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $1.58 and last traded at $1.59, with a volume of 416721 shares changing hands. The stock had previously closed at $1.63.

Wall Street Analyst Weigh In

AZUL has been the topic of several analyst reports. The Goldman Sachs Group cut their target price on Azul from $3.60 to $3.10 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Hsbc Global Res upgraded shares of Azul to a "hold" rating in a research note on Thursday, September 5th. HSBC downgraded shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 target price for the company. in a report on Thursday, September 5th. Finally, Seaport Res Ptn cut shares of Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.46.

Azul Stock Up 3.1 %

The company's 50-day moving average is $2.44 and its two-hundred day moving average is $3.31. The company has a market cap of $708.24 million, a P/E ratio of -0.24 and a beta of 1.92.

Institutional Trading of Azul

Large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company's stock valued at $43,000 after buying an additional 2,812 shares during the last quarter. Inspire Advisors LLC lifted its holdings in Azul by 20.1% during the second 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 during the last quarter. Marshall Wace LLP boosted its position in Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock worth $2,395,000 after purchasing an additional 575,344 shares during the period. Long Focus Capital Management LLC increased its stake in shares of Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock worth $17,816,000 after purchasing an additional 2,295,000 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda raised its position in shares of Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company's stock valued at $1,170,000 after purchasing an additional 290,465 shares during the period. 0.82% of the stock is owned by hedge funds and other institutional investors.

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.