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Azul (NYSE:AZUL) Shares Gap Down - Time to Sell?

Azul logo with Transportation background

Azul S.A. (NYSE:AZUL - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.65, but opened at $1.61. Azul shares last traded at $1.62, with a volume of 117,513 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on AZUL shares. Hsbc Global Res raised Azul to a "hold" rating in a research report on Thursday, September 5th. HSBC downgraded shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 price target for the company. in a research note on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on Azul from $3.60 to $3.10 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Finally, Seaport Res Ptn cut Azul from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Azul presently has an average rating of "Hold" and an average target price of $6.46.

View Our Latest Research Report on Azul

Azul Trading Down 3.6 %

The company's 50 day moving average is $2.47 and its 200 day moving average is $3.36. The stock has a market capitalization of $670.30 million, a price-to-earnings ratio of -0.22 and a beta of 1.92.

Institutional Investors Weigh In On Azul

Several large investors have recently modified their holdings of AZUL. Long Focus Capital Management LLC increased its stake in shares of Azul by 106.3% during the second 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 period. Marshall Wace LLP raised its stake in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock worth $2,395,000 after buying an additional 575,344 shares in 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 valued at $1,170,000 after buying an additional 290,465 shares during the period. XTX Topco Ltd purchased a new stake in shares of Azul in the third quarter valued at approximately $614,000. Finally, Centiva Capital LP grew its holdings in Azul by 205.3% during the third 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 period. 0.82% of the stock is owned by institutional investors and hedge funds.

About Azul

(Get Free Report)

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.

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