Azul (NYSE:AZUL) Stock Price Down 9.4% – Time to Sell?

Azul S.A. (NYSE:AZUL) shares traded down 9.4% during trading on Tuesday . The stock traded as low as $1.49 and last traded at $1.50. 1,898,457 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 1,837,347 shares. The stock had previously closed at $1.65.

Wall Street Analyst Weigh In

AZUL has been the subject of a number of recent analyst reports. Raymond James decreased their price target 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. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.36.

Azul Trading Down 7.6 %

The firm’s fifty day moving average is $1.76 and its 200-day moving average is $2.23. The stock has a market capitalization of $642.90 million, a P/E ratio of -0.21 and a beta of 1.59.

Institutional Trading of Azul

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its stake in shares of Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after purchasing an additional 75,291 shares during the period. Perpetual Ltd lifted its stake in Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock valued at $4,132,000 after buying an additional 119,023 shares during the period. Van ECK Associates Corp lifted its stake in Azul by 16.3% in the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after buying an additional 8,899 shares during the period. Trellis Wealth Advisors LLC bought a new position in Azul during the fourth quarter worth about $32,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Azul in the 4th quarter valued at about $117,000. 0.82% of the stock is 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.