Azul (NYSE:AZUL) Stock Price Up 3.2% - Still a Buy?

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) shot up 3.2% on Wednesday . The company traded as high as $1.78 and last traded at $1.78. 261,583 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,902,011 shares. The stock had previously closed at $1.72.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZUL. Raymond James cut their price target on Azul from $6.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group dropped their price objective on shares of Azul from $2.70 to $2.40 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Finally, Seaport Res Ptn cut shares of Azul from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Azul presently has an average rating of "Hold" and a consensus price target of $5.36.

Azul Stock Down 3.3 %

The firm has a market cap of $709.50 million, a PE ratio of -0.24 and a beta of 1.98. The firm's fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $2.35.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Long Focus Capital Management LLC lifted its position in shares of Azul by 18.0% in the fourth quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company's stock valued at $9,908,000 after acquiring an additional 905,463 shares in the last quarter. Perpetual Ltd lifted its holdings in 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 purchasing an additional 119,023 shares in the last quarter. Kapitalo Investimentos Ltda boosted its stake in Azul by 505.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 538,861 shares of the company's stock worth $900,000 after purchasing an additional 449,855 shares during the period. Jane Street Group LLC grew its holdings in Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company's stock valued at $699,000 after buying an additional 75,291 shares in the last quarter. Finally, Centiva Capital LP raised its position in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company's stock valued at $692,000 after buying an additional 135,365 shares during the last quarter. Institutional investors own 0.82% of the company's stock.

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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.