Azul (NYSE:AZUL) Shares Gap Down on Analyst Downgrade

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price gapped down prior to trading on Wednesday after Raymond James lowered their price target on the stock from $6.00 to $5.00. The stock had previously closed at $2.24, but opened at $2.16. Raymond James currently has an outperform rating on the stock. Azul shares last traded at $2.12, with a volume of 170,117 shares traded.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price target 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 raised shares of Azul from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.40.

Hedge Funds Weigh In On Azul

Several hedge funds have recently bought and sold shares of AZUL. Inspire Advisors LLC increased 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 worth $80,000 after acquiring an additional 6,844 shares during the period. Raymond James Financial Inc. bought a new position in Azul in the fourth quarter worth approximately $117,000. Trellis Wealth Advisors LLC purchased a new position in Azul during the 4th quarter worth $32,000. Van ECK Associates Corp raised its position in Azul by 16.3% during the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company's stock valued at $106,000 after purchasing an additional 8,899 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company's stock worth $4,132,000 after buying an additional 119,023 shares during the period. Institutional investors own 0.82% of the company's stock.

Azul Stock Performance

The business has a 50-day moving average price of $2.07 and a 200-day moving average price of $2.81.

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.