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

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $2.33, but opened at $2.21. Azul shares last traded at $2.18, with a volume of 187,925 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AZUL shares. Seaport Res Ptn raised shares of Azul from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.40.

Azul Stock Performance

The firm's 50 day moving average price is $2.15 and its two-hundred day moving average price is $3.02. The firm has a market cap of $912.70 million, a PE ratio of -0.30 and a beta of 1.95.

Institutional Trading of Azul

Several hedge funds have recently made changes to their positions in AZUL. Long Focus Capital Management LLC lifted its holdings 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 worth $17,816,000 after acquiring an additional 2,295,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock worth $2,395,000 after acquiring an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in shares of Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company's stock worth $1,170,000 after acquiring an additional 290,465 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Azul in the 3rd quarter worth approximately $614,000. Finally, Centiva Capital LP lifted its holdings in shares of Azul by 205.3% in the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company's stock worth $692,000 after acquiring an additional 135,365 shares during the last quarter. Hedge funds and other institutional investors own 0.82% of the company's stock.

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.