Azul (NYSE:AZUL) Sees Strong Trading Volume

Shares of Azul S.A. (NYSE:AZUL) saw an uptick in trading volume on Monday . 891,276 shares traded hands during mid-day trading, a decline of 54% from the previous session’s volume of 1,957,149 shares.The stock last traded at $2.88 and had previously closed at $2.77.

Analyst Ratings Changes

A number of brokerages recently weighed in on AZUL. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley started coverage on Azul in a research note on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Barclays cut their price target on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.23.

Azul Trading Down 2.3 %

The firm has a market cap of $1.45 billion, a PE ratio of -1.34 and a beta of 1.97. The company’s 50-day moving average is $3.80 and its 200 day moving average is $5.34.

Azul (NYSE:AZUL) last issued its earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The firm had revenue of $800.65 million during 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. On average, research analysts predict that Azul S.A. will post -1.39 EPS for the current fiscal year.

Institutional Trading of Azul

A number of hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in Azul in the 4th quarter valued at approximately $214,000. Quantbot Technologies LP increased its stake in shares of Azul by 310.0% in the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after acquiring an additional 24,054 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Azul by 46.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after acquiring an additional 21,549 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in 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 purchasing an additional 3,450 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in Azul by 20.1% in the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares in 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.