Azul (NYSE:AZUL) Shares Gap Down - Should You Sell?

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $2.61, but opened at $2.38. Azul shares last traded at $2.39, with a volume of 425,758 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on AZUL. Deutsche Bank Aktiengesellschaft decreased their target price on Azul from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Barclays reduced their price objective on shares of Azul from $10.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Seaport Res Ptn downgraded shares of Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. The Goldman Sachs Group downgraded Azul from a "buy" rating to a "neutral" rating and cut their target price for the stock from $6.70 to $4.00 in a research note on Monday, September 23rd. Finally, HSBC cut Azul from a "buy" rating to a "hold" rating and set a $2.70 price target on the stock. in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.59.

Azul Stock Down 10.0 %

The company has a 50-day moving average price of $2.93 and a 200-day moving average price of $3.85. The firm has a market capitalization of $990.69 million, a price-to-earnings ratio of -0.33 and a beta of 1.99.

Hedge Funds Weigh In On Azul

A number of institutional investors have recently modified their holdings of AZUL. Long Focus Capital Management LLC boosted its holdings in shares of Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock valued at $17,816,000 after buying an additional 2,295,000 shares during the period. Marshall Wace LLP lifted its position in 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. SPX Gestao de Recursos Ltda increased its stake 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 valued at $1,170,000 after purchasing an additional 290,465 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Azul during the third quarter worth $614,000. Finally, Centiva Capital LP grew its stake in shares of Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company's stock worth $692,000 after purchasing an additional 135,365 shares during the last quarter. 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.