Azul (NYSE:AZUL) Stock Price Down 5.8% - Here's Why

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price traded down 5.8% on Friday . The stock traded as low as $2.74 and last traded at $2.74. 721,061 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,993,088 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZUL. Deutsche Bank Aktiengesellschaft cut their target price on shares of Azul from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. HSBC downgraded shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 price objective for the company. in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut Azul from an "overweight" rating to a "neutral" rating in a report on Wednesday, July 10th. The Goldman Sachs Group lowered Azul from a "buy" rating to a "neutral" rating and cut their price target for the company from $6.70 to $4.00 in a report on Monday, September 23rd. Finally, Barclays reduced their price target on Azul from $10.00 to $4.50 and set an "equal weight" rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.59.

Azul Stock Down 7.0 %

The stock has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $4.34. The firm has a market capitalization of $1.14 billion, a P/E ratio of -0.28 and a beta of 1.98.

Azul (NYSE:AZUL - Get Free Report) last issued its 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 company had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same quarter in the previous year, the business earned ($0.81) earnings per share. Research analysts anticipate that Azul S.A. will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of Azul

A number of institutional investors and hedge funds have recently bought and sold shares of AZUL. Long Focus Capital Management LLC increased its stake in Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock worth $17,816,000 after acquiring an additional 2,295,000 shares during the last quarter. Perpetual Ltd grew its holdings in shares of Azul by 4.5% in the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company's stock valued at $8,101,000 after purchasing an additional 100,639 shares in the last quarter. Marshall Wace LLP increased its position in 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 purchasing an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda increased its position 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 worth $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Azul during the third quarter valued at $306,000. 0.82% of the stock is currently owned by institutional investors.

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.