Azul (NYSE:AZUL) Stock Price Down 4.7% – Time to Sell?

Azul S.A. (NYSE:AZUL) fell 4.7% on Thursday . The stock traded as low as $2.34 and last traded at $2.35. 408,127 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,292,271 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

Several research analysts recently commented on AZUL shares. The Goldman Sachs Group cut their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Azul currently has an average rating of “Hold” and an average target price of $6.40.

Azul Trading Down 4.3 %

The stock has a market capitalization of $992.80 million, a P/E ratio of -0.33 and a beta of 1.95. The stock’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $3.02.

Institutional Trading of Azul

Institutional investors and hedge funds have recently bought and sold shares of the company. Perpetual Ltd raised its position in shares of Azul by 5.1% during the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock valued at $4,132,000 after acquiring an additional 119,023 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Azul during the 3rd quarter valued at about $614,000. Jane Street Group LLC lifted its holdings in Azul by 58.9% in 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 last quarter. Centiva Capital LP boosted its stake in Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after acquiring an additional 135,365 shares during the period. Finally, Ground Swell Capital LLC bought a new position in shares of Azul during 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.