Azul (NYSE:AZUL) Shares Gap Up – What’s Next?

Azul S.A. (NYSE:AZUL) shares gapped up before the market opened on Monday . The stock had previously closed at $2.70, but opened at $2.78. Azul shares last traded at $2.75, with a volume of 112,246 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AZUL shares. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Seaport Res Ptn lowered Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 target price on the stock. in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Azul presently has a consensus rating of “Hold” and an average price target of $6.59.

Azul Stock Up 4.9 %

The business’s 50-day moving average price is $2.97 and its 200-day moving average price is $4.24. The firm has a market capitalization of $1.17 billion, a PE ratio of -0.29 and a beta of 1.99.

Azul (NYSE:AZUL) last issued its quarterly earnings data on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The company had revenue of $800.65 million for the quarter, compared to analysts’ expectations of $791.43 million. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. On average, analysts anticipate that Azul S.A. will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SPX Gestao de Recursos Ltda increased its holdings in shares of Azul by 13,831.7% during the 2nd 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 period. Long Focus Capital Management LLC grew its position in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Quantbot Technologies LP increased 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 acquiring an additional 24,054 shares during the period. Marshall Wace LLP raised its holdings in Azul by 2,466.5% in the 2nd 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. Finally, Perpetual Ltd lifted its position in shares of Azul by 4.5% in the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after acquiring an additional 100,639 shares during the period. Institutional investors own 0.82% of the company’s stock.

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.