Azul (NYSE:AZUL) Stock Price Down 3.8% - Time to Sell?

Azul S.A. (NYSE:AZUL - Get Free Report) was down 3.8% on Friday . The stock traded as low as $2.26 and last traded at $2.27. Approximately 196,671 shares were traded during trading, a decline of 90% from the average daily volume of 1,939,397 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays reduced their target price on Azul from $10.00 to $4.50 and set an "equal weight" rating for the company in a report on Monday, August 19th. The Goldman Sachs Group cut Azul from a "buy" rating to a "neutral" rating and lowered their target price for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. Seaport Res Ptn lowered shares of Azul from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. HSBC downgraded shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 price objective on the stock. in a research report on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Azul to a "hold" rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.59.

Azul Price Performance

The stock has a market capitalization of $931.67 million, a price-to-earnings ratio of -0.31 and a beta of 1.92. The stock's 50 day simple moving average is $2.86 and its 200-day simple moving average is $3.70.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZUL. Coronation Fund Managers Ltd. boosted its position in Azul by 9.5% during the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company's stock worth $109,000 after purchasing an additional 2,380 shares during the period. Signaturefd LLC boosted its holdings in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company's stock worth $43,000 after buying an additional 2,812 shares during the period. Inspire Advisors LLC grew its stake in Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company's stock valued at $90,000 after buying an additional 3,764 shares during the last quarter. Creative Planning acquired a new position in Azul in the 3rd quarter valued at $35,000. Finally, Ground Swell Capital LLC acquired a new position in Azul during the 3rd quarter worth $44,000. Institutional investors and hedge funds 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.