Azul (NYSE:AZUL) Reaches New 52-Week Low - Here's Why

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.57 and last traded at $1.58, with a volume of 586438 shares changing hands. The stock had previously closed at $1.64.

Analyst Ratings Changes

A number of research firms recently issued reports on AZUL. Seaport Res Ptn cut Azul from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Raymond James decreased their price objective on Azul from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group dropped their target price on Azul from $2.70 to $2.40 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.36.

Azul Stock Down 6.3 %

The company's fifty day moving average price is $1.91 and its two-hundred day moving average price is $2.33. The company has a market cap of $663.97 million, a price-to-earnings ratio of -0.22 and a beta of 1.59.

Institutional Trading of Azul

A number of hedge funds and other institutional investors have recently made changes to their positions in AZUL. Two Sigma Investments LP increased its position in shares of Azul by 17.1% during the 4th quarter. Two Sigma Investments LP now owns 191,019 shares of the company's stock worth $319,000 after purchasing an additional 27,949 shares during the last quarter. Kapitalo Investimentos Ltda lifted its holdings in Azul by 505.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 538,861 shares of the company's stock valued at $900,000 after purchasing an additional 449,855 shares during the last quarter. Two Sigma Securities LLC increased its holdings in shares of Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company's stock valued at $49,000 after purchasing an additional 9,038 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Azul by 18.0% in the fourth quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company's stock valued at $9,908,000 after purchasing an additional 905,463 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Azul in the fourth quarter valued at about $87,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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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.