Azul S.A. (NYSE:AZUL) Short Interest Down 5.7% in October

Azul S.A. (NYSE:AZUL) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 7,270,000 shares, a decline of 5.7% from the October 15th total of 7,710,000 shares. Based on an average trading volume of 2,720,000 shares, the days-to-cover ratio is presently 2.7 days.

Azul Trading Down 2.0 %

Shares of Azul stock opened at $2.51 on Wednesday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -0.35 and a beta of 1.99. Azul has a 1 year low of $2.02 and a 1 year high of $11.11. The company’s fifty day simple moving average is $2.97 and its 200-day simple moving average is $4.02.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new stake in Azul in the third quarter worth about $35,000. Signaturefd LLC raised its stake in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of Azul during the 3rd quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new position in shares of Azul during the 2nd quarter worth approximately $51,000. Finally, Inspire Advisors LLC increased its holdings in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares during the last quarter. 0.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZUL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. HSBC downgraded Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a research note on Thursday, September 5th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. The Goldman Sachs Group downgraded Azul from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. Finally, Barclays lowered their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.59.

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.