Azul (NYSE:AZUL) Shares Gap Up – Time to Buy?

Azul S.A. (NYSE:AZUL) shares gapped up prior to trading on Monday . The stock had previously closed at $1.82, but opened at $1.94. Azul shares last traded at $2.01, with a volume of 928,994 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their target price on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Raymond James dropped their price target on shares of Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. One investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.40.

Azul Price Performance

The stock’s fifty day moving average price is $2.00 and its 200-day moving average price is $2.64. The firm has a market cap of $781.59 million, a price-to-earnings ratio of -0.26 and a beta of 2.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning acquired a new stake in Azul during the 3rd quarter worth about $35,000. Ground Swell Capital LLC acquired a new position in Azul in the 3rd quarter valued at approximately $44,000. Trellis Wealth Advisors LLC purchased a new stake in Azul in the 4th quarter worth approximately $32,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Azul during the 4th quarter valued at $42,000. Finally, Two Sigma Securities LLC grew its holdings in shares of Azul by 44.6% during 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 in the last quarter. Hedge funds and other institutional investors 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.