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 trading hands.

Wall Street Analysts Forecast Growth

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

Azul Trading Up 1.6 %

The business has a 50 day moving average price of $2.00 and a 200-day moving average price of $2.61. The company has a market cap of $817.85 million, a P/E ratio of -0.27 and a beta of 1.99.

Institutional Trading of Azul

A number of large investors have recently added to or reduced their stakes in the company. Inspire Advisors LLC increased its stake in shares of Azul by 16.6% during the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after purchasing an additional 6,844 shares during the last quarter. Van ECK Associates Corp grew its holdings in Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after purchasing an additional 8,899 shares during the period. Two Sigma Securities LLC increased its position in Azul by 44.6% during the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after buying an additional 9,038 shares during the last quarter. Creative Planning bought a new stake in Azul in the third quarter valued at approximately $35,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Azul in the third quarter valued at approximately $44,000. Institutional investors and hedge funds 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.