Azul S.A. (NYSE:AZUL) Short Interest Update

Azul S.A. (NYSE:AZUL) was the target of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 8,840,000 shares, a decline of 5.0% from the July 31st total of 9,310,000 shares. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is presently 4.8 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings 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 acquiring an additional 2,812 shares in the last quarter. Inspire Advisors LLC raised 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 in the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Azul by 9.5% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after acquiring an additional 2,380 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Azul during the 4th quarter worth approximately $214,000. Finally, Quantbot Technologies LP raised its holdings in shares of Azul by 310.0% during the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after acquiring an additional 24,054 shares in the last quarter. 0.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZUL has been the subject of a number of recent research reports. Barclays cut their price objective on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Morgan Stanley initiated coverage on Azul in a research note on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. downgraded Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.60.

Azul Price Performance

AZUL stock opened at $2.81 on Tuesday. Azul has a 1-year low of $2.51 and a 1-year high of $11.26. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.15 and a beta of 2.00. The business has a 50 day simple moving average of $4.18 and a two-hundred day simple moving average of $5.71.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The business had revenue of $800.65 million during the quarter, compared to analyst estimates of $791.43 million. During the same period last year, the firm earned ($0.81) EPS. Sell-side analysts anticipate that Azul will post -1.45 EPS for the current fiscal year.

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.