Azul (NYSE:AZUL) Stock Price Down 5.1% – What’s Next?

Azul S.A. (NYSE:AZUL) was down 5.1% during trading on Friday . The stock traded as low as $1.76 and last traded at $1.76. Approximately 922,539 shares traded hands during trading, a decline of 52% from the average daily volume of 1,903,588 shares. The stock had previously closed at $1.85.

Analyst Ratings Changes

AZUL has been the subject of several recent analyst reports. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lowered 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. Finally, Raymond James lowered their price target 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.40.

Azul Price Performance

The firm’s fifty day moving average is $2.01 and its 200-day moving average is $2.37. The firm has a market cap of $731.43 million, a price-to-earnings ratio of -0.24 and a beta of 1.98.

Hedge Funds Weigh In On Azul

A number of institutional investors and hedge funds have recently modified their holdings of the business. Inspire Advisors LLC increased its position in Azul by 16.6% in the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock valued at $80,000 after buying an additional 6,844 shares in the last quarter. Van ECK Associates Corp increased its holdings in Azul by 16.3% during the 4th 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 in the last quarter. Two Sigma Securities LLC lifted its holdings in shares of Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after purchasing an additional 9,038 shares in the last quarter. Trellis Wealth Advisors LLC purchased a new position in shares of Azul during the fourth quarter valued at approximately $32,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Azul during the fourth quarter worth $42,000. 0.82% of the stock is currently owned by institutional investors.

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.