Azul (NYSE:AZUL) Stock Price Down 5.1% - Here's Why

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

Analyst Ratings Changes

Several research analysts have recently weighed in on AZUL shares. Seaport Res Ptn downgraded Azul from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Raymond James decreased their price objective on shares of Azul from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group dropped their target price on shares of Azul from $2.70 to $2.40 and set a "neutral" rating on the stock in a research report on Tuesday. One 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's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.36.

Azul Price Performance

The stock has a market cap of $739.86 million, a price-to-earnings ratio of -0.25 and a beta of 1.98. The firm has a fifty day moving average of $2.00 and a 200 day moving average of $2.37.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AZUL. Long Focus Capital Management LLC lifted its position in 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 buying an additional 905,463 shares during the last quarter. Kapitalo Investimentos Ltda increased its holdings in Azul by 505.4% in 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. XTX Topco Ltd acquired a new position in Azul during the third quarter worth $614,000. Centiva Capital LP boosted its position in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company's stock worth $692,000 after buying an additional 135,365 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Azul in the fourth quarter valued at $220,000. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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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.