Azul (NYSE:AZUL) Shares Down 4.9% on Analyst Downgrade

Azul S.A. (NYSE:AZUL - Get Free Report) shares traded down 4.9% during mid-day trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $3.10 to $2.70. The Goldman Sachs Group currently has a neutral rating on the stock. Azul traded as low as $2.25 and last traded at $2.24. 835,223 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,222,674 shares. The stock had previously closed at $2.35.

Separately, Seaport Res Ptn cut shares of Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.40.

Institutional Trading of Azul

Large investors have recently modified their holdings of the company. Long Focus Capital Management LLC boosted its stake in Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock valued at $17,816,000 after purchasing an additional 2,295,000 shares during the period. Perpetual Ltd boosted its position in shares of Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company's stock valued at $4,132,000 after acquiring an additional 119,023 shares during the period. Marshall Wace LLP grew its stake in shares of Azul by 2,466.5% in the second 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 increased its position in Azul by 13,831.7% during the second 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 period. Finally, Jane Street Group LLC raised its stake 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 purchasing an additional 75,291 shares during the last quarter. 0.82% of the stock is owned by institutional investors.

Azul Trading Down 0.2 %

The stock has a market capitalization of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95. The business's fifty day simple moving average is $2.17 and its two-hundred day simple moving average is $3.06.

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.