Azul (NYSE:AZUL) Stock Price Down 3.4%

Azul S.A. (NYSE:AZUL) shares were down 3.4% during trading on Wednesday . The company traded as low as $3.39 and last traded at $3.41. Approximately 1,813,873 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 2,002,401 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays reduced their price objective on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Hsbc Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. Finally, HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.23.

Azul Price Performance

The company has a market cap of $1.34 billion, a P/E ratio of -1.30 and a beta of 1.97. The company’s 50-day moving average is $3.74 and its two-hundred day moving average is $5.31.

Azul (NYSE:AZUL) last posted its earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The business had revenue of $800.65 million for the quarter, compared to analyst estimates of $791.43 million. During the same period in the previous year, the business posted ($0.81) earnings per share. Equities research analysts anticipate that Azul S.A. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Long Focus Capital Management LLC lifted its stake in shares of Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Marshall Wace LLP lifted its stake in Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after purchasing an additional 575,344 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its stake in Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after purchasing an additional 290,465 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Azul by 46.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after purchasing an additional 21,549 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after purchasing an additional 24,054 shares in the last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

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.