Azul (NYSE:AZUL) Shares Gap Down to $4.27

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.27, but opened at $4.10. Azul shares last traded at $4.08, with a volume of 145,855 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays decreased their price target on Azul from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 15th. Morgan Stanley assumed coverage on Azul in a research note on Friday, May 24th. They issued an "equal weight" rating and a $7.40 price target on the stock. Raymond James reaffirmed an "outperform" rating and issued a $12.00 price target (down from $13.00) on shares of Azul in a research note on Monday, April 15th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $9.50 price target (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.12.

Azul Stock Down 6.6 %

The firm has a market capitalization of $1.68 billion, a P/E ratio of -1.67 and a beta of 2.05. The company has a fifty day simple moving average of $5.52 and a 200 day simple moving average of $7.23.

Azul (NYSE:AZUL - Get Free Report) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.04). The company had revenue of $945.00 million during the quarter, compared to the consensus estimate of $968.17 million. As a group, equities analysts expect that Azul S.A. will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Azul

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Advisors LLC grew its position in shares of Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company's stock worth $145,000 after purchasing an additional 3,042 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in shares of Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company's stock worth $194,000 after purchasing an additional 3,450 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Azul during the third quarter worth about $205,000. Aigen Investment Management LP purchased a new stake in shares of Azul during the fourth quarter worth about $214,000. Finally, Quantbot Technologies LP boosted its stake in Azul by 310.0% during the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company's stock valued at $247,000 after buying an additional 24,054 shares during the last quarter. Hedge funds and other institutional investors 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.