Azul (NYSE:AZUL) Shares Gap Down - Here's Why

Azul S.A. (NYSE:AZUL - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.99, but opened at $1.90. Azul shares last traded at $1.83, with a volume of 340,186 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AZUL shares. Hsbc Global Res upgraded Azul to a "hold" rating in a report on Thursday, September 5th. Seaport Res Ptn lowered Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. HSBC downgraded Azul from a "buy" rating to a "hold" rating and set a $2.70 price objective on the stock. in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group downgraded Azul from a "buy" rating to a "neutral" rating and decreased their target price for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Azul presently has an average rating of "Hold" and an average target price of $6.59.

Azul Trading Down 15.1 %

The company's fifty day simple moving average is $2.69 and its 200-day simple moving average is $3.51. The stock has a market cap of $712.45 million, a P/E ratio of -0.24 and a beta of 1.92.

Institutional Trading of Azul

Several large investors have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda increased its position in 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 acquiring an additional 290,465 shares in the last quarter. 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 purchasing an additional 2,295,000 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock worth $2,395,000 after purchasing an additional 575,344 shares during the period. Creative Planning bought a new stake in Azul in the third quarter valued at about $35,000. Finally, 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 valued at $8,101,000 after buying an additional 100,639 shares during the period. 0.82% of the stock is owned by institutional investors.

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.