Azul (NYSE:AZUL) Trading Down 6.7% – What’s Next?

Azul S.A. (NYSE:AZUL)’s share price dropped 6.7% during trading on Wednesday . The stock traded as low as $1.95 and last traded at $1.90. Approximately 191,533 shares were traded during trading, a decline of 86% from the average daily volume of 1,375,986 shares. The stock had previously closed at $2.03.

Wall Street Analysts Forecast Growth

AZUL has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group reduced their price objective on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Raymond James reduced their price objective on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.40.

Azul Stock Performance

The company has a market capitalization of $807.31 million, a price-to-earnings ratio of -0.27 and a beta of 2.00. The stock’s fifty day simple moving average is $2.02 and its two-hundred day simple moving average is $2.69.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP lifted its holdings in Azul by 17.1% in the 4th quarter. Two Sigma Investments LP now owns 191,019 shares of the company’s stock valued at $319,000 after acquiring an additional 27,949 shares during the last quarter. Kapitalo Investimentos Ltda lifted its holdings in Azul by 505.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 538,861 shares of the company’s stock valued at $900,000 after acquiring an additional 449,855 shares during the last quarter. Two Sigma Securities LLC lifted its holdings in Azul by 44.6% in the 4th quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after acquiring an additional 9,038 shares during the last quarter. Long Focus Capital Management LLC lifted its holdings in Azul by 18.0% in the 4th quarter. Long Focus Capital Management LLC now owns 5,932,943 shares of the company’s stock valued at $9,908,000 after acquiring an additional 905,463 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Azul in the 4th quarter valued at about $87,000. 0.82% of the stock is owned by institutional investors and hedge funds.

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.