Azul (NYSE:AZUL) Trading Down 4% - Here's What Happened

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price was down 4% on Friday . The company traded as low as $3.12 and last traded at $3.12. Approximately 324,801 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,010,811 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AZUL shares. The Goldman Sachs Group lowered shares of Azul from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $6.70 to $4.00 in a research report on Monday, September 23rd. Seaport Res Ptn downgraded Azul from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. downgraded Azul from an "overweight" rating to a "neutral" rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price on Azul from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Finally, HSBC downgraded Azul from a "buy" rating to a "hold" rating and set a $2.70 target price for the company. in a report 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 issued a buy rating to the stock. According to MarketBeat.com, Azul presently has an average rating of "Hold" and a consensus target price of $6.59.

Azul Trading Down 3.7 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -1.28 and a beta of 1.98. The firm has a 50 day moving average price of $3.25 and a 200-day moving average price of $4.62.

Azul (NYSE:AZUL - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The firm had revenue of $800.65 million during the quarter, compared to analyst estimates of $791.43 million. During the same period in the previous year, the business earned ($0.81) earnings per share. As a group, equities analysts expect that Azul S.A. will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AZUL. Inspire Advisors LLC grew its holdings in Azul by 84.0% in the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company's stock valued at $142,000 after buying an additional 18,861 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Azul during the 3rd quarter worth about $306,000. Creative Planning purchased a new stake in shares of Azul during the 3rd quarter worth about $35,000. Perpetual Ltd grew its holdings in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company's stock worth $8,101,000 after purchasing an additional 100,639 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Azul during the 2nd quarter worth about $51,000. 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.