Azul (NYSE:AZUL) Shares Gap Up – What’s Next?

Azul S.A. (NYSE:AZUL) gapped up prior to trading on Monday . The stock had previously closed at $1.81, but opened at $1.95. Azul shares last traded at $1.97, with a volume of 311,759 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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 lowered their price objective on Azul from $3.60 to $3.10 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Azul currently has an average rating of “Hold” and a consensus price target of $6.46.

Azul Stock Performance

The stock has a market cap of $864.18 million, a price-to-earnings ratio of -0.29 and a beta of 1.95. The company’s 50 day simple moving average is $2.32 and its 200 day simple moving average is $3.19.

Institutional Investors Weigh In On Azul

A number of institutional investors have recently added to or reduced their stakes in AZUL. SPX Gestao de Recursos Ltda raised its stake in shares of 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 buying an additional 290,465 shares in the last quarter. Jane Street Group LLC raised its position in Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after acquiring an additional 75,291 shares in the last quarter. Long Focus Capital Management LLC boosted 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 worth $17,816,000 after acquiring an additional 2,295,000 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of 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 acquiring an additional 575,344 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Azul during the third quarter worth $35,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.