Azul (NYSE:AZUL) Reaches New 52-Week Low - Time to Sell?

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $2.02 and last traded at $2.05, with a volume of 73903 shares trading hands. The stock had previously closed at $2.04.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AZUL. Seaport Res Ptn downgraded shares of Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. The Goldman Sachs Group cut Azul from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $6.70 to $4.00 in a report on Monday, September 23rd. HSBC lowered Azul from a "buy" rating to a "hold" rating and set a $2.70 price objective on the stock. in a report on Thursday, September 5th. Barclays cut their price objective on Azul from $10.00 to $4.50 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Finally, Hsbc Global Res upgraded Azul to a "hold" rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.59.

Azul Stock Performance

The business has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $3.53. The firm has a market capitalization of $824.17 million, a price-to-earnings ratio of -0.28 and a beta of 1.92.

Institutional Investors Weigh In On Azul

Several hedge funds and other institutional investors have recently bought and sold shares of AZUL. Signaturefd LLC grew its holdings in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company's stock worth $43,000 after purchasing an additional 2,812 shares during the period. Inspire Advisors LLC lifted its holdings in shares of Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company's stock worth $90,000 after acquiring an additional 3,764 shares during the last quarter. Creative Planning purchased a new stake in Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC acquired a new position in Azul during the third quarter worth $44,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Azul in the second quarter valued at $51,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.