Azul (NYSE:AZUL) Stock Price Down 6.3% – Here’s What Happened

Azul S.A. (NYSE:AZUL) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $2.25 and last traded at $2.31. 628,885 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,291,617 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

Several research analysts have commented on AZUL shares. The Goldman Sachs Group dropped their price target on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Seaport Res Ptn upgraded shares of Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.40.

Azul Stock Down 5.5 %

The stock has a market capitalization of $980.15 million, a P/E ratio of -0.33 and a beta of 1.95. The firm has a 50-day moving average of $2.12 and a 200 day moving average of $2.88.

Institutional Investors Weigh In On Azul

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Azul by 16.3% in the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after purchasing an additional 8,899 shares in the last quarter. Creative Planning acquired a new position in Azul in the third quarter valued at about $35,000. Ground Swell Capital LLC bought a new stake in Azul during the third quarter worth about $44,000. Sanctuary Advisors LLC acquired a new stake in shares of Azul during the second quarter worth approximately $51,000. Finally, Inspire Advisors LLC raised its stake in shares of Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after acquiring an additional 18,861 shares during the last quarter. 0.82% of the stock is owned by institutional investors and hedge funds.

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.