Azul (NYSE:AZUL) Shares Up 6% - Still a Buy?

Azul S.A. (NYSE:AZUL - Get Free Report)'s share price shot up 6% on Thursday . The company traded as high as $1.80 and last traded at $1.79. 875,981 shares were traded during mid-day trading, a decline of 55% from the average session volume of 1,933,803 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

AZUL has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Azul from $3.60 to $3.10 and set a "neutral" rating on the stock in a research report on Thursday. 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 Global Res raised shares of Azul to a "hold" rating in a research report on Thursday, September 5th. Finally, HSBC lowered shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Azul currently has an average rating of "Hold" and a consensus price target of $6.46.

Azul Trading Up 4.7 %

The business's 50-day simple moving average is $2.66 and its 200-day simple moving average is $3.50. The company has a market capitalization of $746.18 million, a PE ratio of -0.25 and a beta of 1.92.

Institutional Investors Weigh In On Azul

Hedge funds have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC raised its stake in shares of 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 buying an additional 2,295,000 shares during the last quarter. Perpetual Ltd raised its position in Azul by 4.5% during the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company's stock valued at $8,101,000 after acquiring an additional 100,639 shares in the last quarter. Marshall Wace LLP raised 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 valued at $2,395,000 after acquiring an additional 575,344 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company's stock valued at $1,170,000 after acquiring an additional 290,465 shares during the period. Finally, Jane Street Group LLC boosted its position in Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company's stock worth $699,000 after purchasing an additional 75,291 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other 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.