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

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) 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. The stock had previously closed at $1.64.

Analysts Set New Price Targets

Several research firms have weighed in on AZUL. Raymond James cut 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. The Goldman Sachs Group dropped their price target on Azul from $2.70 to $2.40 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Finally, Seaport Res Ptn cut Azul from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Azul currently has an average rating of "Hold" and an average target price of $5.36.

Azul Stock Performance

The stock has a 50-day moving average of $1.89 and a two-hundred day moving average of $2.32. The company has a market cap of $657.65 million, a P/E ratio of -0.22 and a beta of 1.59.

Hedge Funds Weigh In On Azul

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company's stock valued at $699,000 after purchasing an additional 75,291 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of Azul by 5.1% during the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company's stock valued at $4,132,000 after purchasing an additional 119,023 shares in the last quarter. Inspire Advisors LLC increased its holdings in Azul by 16.6% in the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company's stock worth $80,000 after buying an additional 6,844 shares in the last quarter. Trellis Wealth Advisors LLC purchased a new position in Azul in the 4th quarter worth about $32,000. Finally, Virtu Financial LLC bought a new position in Azul during the 4th quarter valued at about $220,000. Hedge funds and other institutional investors own 0.82% of the company's stock.

About Azul

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.