Azul S.A. (NYSE:AZUL) Short Interest Up 5.7% in March

Azul S.A. (NYSE:AZUL) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,690,000 shares, a growth of 5.7% from the March 15th total of 3,490,000 shares. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is currently 2.7 days.

Azul Trading Up 0.2 %

Shares of NYSE AZUL opened at $6.05 on Thursday. Azul has a one year low of $5.66 and a one year high of $13.86. The business has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $8.42. The firm has a market capitalization of $2.55 billion, a PE ratio of -6.51 and a beta of 1.85.

Analysts Set New Price Targets

AZUL has been the subject of a number of recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Azul in a research report on Monday. Barclays decreased their price objective on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Azul currently has an average rating of “Moderate Buy” and an average price target of $12.56.

Institutional Investors Weigh In On Azul

A number of hedge funds and other institutional investors have recently made changes to their positions in AZUL. Frontier Capital Management Co. LLC raised its stake in shares of Azul by 296.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 4,384,995 shares of the company’s stock worth $31,353,000 after purchasing an additional 3,280,010 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Azul by 551.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company’s stock worth $14,296,000 after purchasing an additional 1,980,852 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Azul by 293.1% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company’s stock worth $7,441,000 after purchasing an additional 775,936 shares in the last quarter. Millennium Management LLC raised its stake in shares of Azul by 269.5% in the 2nd quarter. Millennium Management LLC now owns 817,199 shares of the company’s stock valued at $5,802,000 after acquiring an additional 596,022 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Azul in the 3rd quarter valued at approximately $4,712,000. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.