Azul (NYSE:AZUL) Shares Gap Up – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $1.81, but opened at $1.95. Azul shares last traded at $1.97, with a volume of 311,759 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZUL. The Goldman Sachs Group dropped their price objective on Azul from $3.60 to $3.10 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Seaport Res Ptn lowered Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Azul currently has an average rating of “Hold” and a consensus target price of $6.46.

Azul Stock Up 0.5 %

The business has a 50-day moving average price of $2.28 and a two-hundred day moving average price of $3.16. The company has a market capitalization of $847.36 million, a price-to-earnings ratio of -0.28 and a beta of 1.95.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently made changes to their positions in AZUL. Inspire Advisors LLC boosted its holdings in Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares during the last quarter. Creative Planning purchased a new position in shares of Azul in the 3rd quarter worth approximately $35,000. Ground Swell Capital LLC bought a new position in shares of Azul in the third quarter valued at approximately $44,000. Sanctuary Advisors LLC purchased a new stake in shares of Azul during the second quarter valued at approximately $51,000. Finally, Jane Street Group LLC lifted its holdings in Azul by 58.9% during the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after acquiring an additional 75,291 shares during the period. 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.