Azul (NYSE:AZUL) Shares Gap Down to $2.90

Shares of Azul S.A. (NYSE:AZUL) gapped down prior to trading on Monday . The stock had previously closed at $2.90, but opened at $2.66. Azul shares last traded at $2.77, with a volume of 499,885 shares traded.

Analyst Ratings Changes

AZUL has been the subject of a number of recent research reports. Hsbc Global Res raised shares of Azul to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. HSBC downgraded shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective for the company. in a research note on Thursday, September 5th. Finally, Barclays reduced 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 analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.23.

Azul Stock Up 0.3 %

The stock’s 50 day moving average is $3.70 and its two-hundred day moving average is $5.24. The company has a market capitalization of $1.23 billion, a PE ratio of -1.16 and a beta of 1.97.

Azul (NYSE:AZUL) last announced 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 firm had revenue of $800.65 million for the quarter, compared to analysts’ expectations of $791.43 million. During the same period in the previous year, the firm earned ($0.81) earnings per share. On average, sell-side analysts predict that Azul S.A. will post -1.39 EPS for the current fiscal year.

Institutional Trading of Azul

Several hedge funds have recently modified their holdings of AZUL. Signaturefd LLC grew its stake in shares of Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after acquiring an additional 2,812 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Azul during the 2nd quarter worth approximately $51,000. Inspire Advisors LLC increased its stake in Azul by 19.4% during the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after purchasing an additional 3,042 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Azul in the fourth quarter worth $214,000. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after buying an additional 3,450 shares during the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

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.