Azul (NYSE:AZUL) Shares Down 1.8% - Here's What Happened

Azul S.A. (NYSE:AZUL - Get Free Report) shares traded down 1.8% during mid-day trading on Tuesday . The company traded as low as $1.65 and last traded at $1.65. 87,544 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,912,254 shares. The stock had previously closed at $1.68.

Analyst Ratings Changes

Several research firms recently issued reports on AZUL. The Goldman Sachs Group cut their price objective on shares of Azul from $3.60 to $3.10 and set a "neutral" rating for the company in a research report on Thursday, December 19th. HSBC cut 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. Hsbc Global Res raised Azul to a "hold" rating in a research note on Thursday, September 5th. Finally, Seaport Res Ptn lowered Azul from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Azul presently has an average rating of "Hold" and a consensus target price of $6.46.

Azul Trading Down 0.6 %

The company has a fifty day moving average of $2.39 and a 200-day moving average of $3.26. The stock has a market cap of $704.02 million, a PE ratio of -0.24 and a beta of 1.92.

Hedge Funds Weigh In On Azul

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZUL. Long Focus Capital Management LLC boosted its stake in shares of Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock valued at $17,816,000 after buying an additional 2,295,000 shares during the period. Perpetual Ltd lifted its stake in Azul by 4.5% in the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company's stock worth $8,101,000 after acquiring an additional 100,639 shares during the last quarter. Marshall Wace LLP increased its position in shares of Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock valued at $2,395,000 after purchasing an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda raised its holdings in shares of Azul by 13,831.7% in the 2nd 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 in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Azul by 58.9% during the 3rd 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 last quarter. 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.