Azul (NYSE:AZUL) Shares Down 5.1% - Here's What Happened

Azul S.A. (NYSE:AZUL - Get Free Report) fell 5.1% during mid-day trading on Friday . The stock traded as low as $1.76 and last traded at $1.76. 922,539 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,903,588 shares. The stock had previously closed at $1.85.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on Azul from $3.10 to $2.70 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Seaport Res Ptn cut Azul from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Raymond James reduced their target price on Azul from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $5.40.

Azul Trading Down 6.2 %

The firm's 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.37. The stock has a market cap of $731.43 million, a PE ratio of -0.24 and a beta of 1.98.

Institutional Trading of Azul

A number of hedge funds have recently bought and sold shares of the stock. Trellis Wealth Advisors LLC bought a new position in shares of Azul in the 4th quarter worth $32,000. Arrowstreet Capital Limited Partnership purchased a new position in Azul in the fourth quarter valued at about $42,000. Two Sigma Securities LLC raised its holdings in Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company's stock worth $49,000 after purchasing an additional 9,038 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Azul by 16.6% during the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company's stock valued at $80,000 after buying an additional 6,844 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Azul in the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 0.82% of the company's stock.

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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.