Azul (NYSE:AZUL) Trading Up 6.6% – Time to Buy?

Azul S.A. (NYSE:AZUL) was up 6.6% during mid-day trading on Wednesday . The company traded as high as $1.86 and last traded at $1.85. Approximately 233,368 shares changed hands during trading, a decline of 83% from the average daily volume of 1,338,599 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

A number of research firms recently commented on AZUL. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Raymond James cut their target price on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Azul has an average rating of “Hold” and an average price target of $5.40.

Azul Stock Up 9.0 %

The firm’s fifty day moving average price is $2.01 and its 200-day moving average price is $2.53. The stock has a market cap of $794.66 million, a P/E ratio of -0.27 and a beta of 1.98.

Institutional Investors Weigh In On Azul

Large investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in shares of Azul during the third quarter worth about $35,000. Centiva Capital LP lifted its holdings in Azul by 205.3% in the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after buying an additional 135,365 shares during the period. Jane Street Group LLC grew its position 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 worth $699,000 after buying an additional 75,291 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Azul during the third quarter valued at approximately $614,000. Finally, Perpetual Ltd raised its holdings in shares of Azul by 5.1% during the fourth 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. Institutional investors 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.