Azul (NYSE:AZUL) Trading Down 6.3% - What's Next?

Azul S.A. (NYSE:AZUL - Get Free Report) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $2.25 and last traded at $2.31. 628,885 shares changed hands during trading, a decline of 51% from the average session volume of 1,291,617 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AZUL shares. Seaport Res Ptn raised Azul from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 16th. The Goldman Sachs Group cut their price target on shares of Azul from $3.10 to $2.70 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Raymond James decreased their price target on shares of Azul from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.40.

Azul Stock Down 4.7 %

The firm has a market capitalization of $819.96 million, a P/E ratio of -0.27 and a beta of 2.00. The business's 50-day simple moving average is $2.08 and its 200 day simple moving average is $2.84.

Hedge Funds Weigh In On Azul

Several institutional investors and hedge funds have recently made changes to their positions in AZUL. Creative Planning purchased a new position in shares of Azul in the third quarter worth $35,000. Ground Swell Capital LLC purchased a new position in shares of Azul in the third quarter valued at about $44,000. Sanctuary Advisors LLC purchased a new position in shares of Azul in the second quarter valued at about $51,000. Trellis Wealth Advisors LLC bought a new position in shares of Azul during the fourth quarter valued at about $32,000. Finally, Inspire Advisors LLC boosted its holdings in shares of Azul by 84.0% during the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company's stock worth $142,000 after purchasing an additional 18,861 shares during the period. Institutional investors own 0.82% of the company's stock.

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.