Azul (NYSE:AZUL) Sets New 52-Week Low – Time to Sell?

Shares of Azul S.A. (NYSE:AZUL) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.65 and last traded at $1.65, with a volume of 49750 shares changing hands. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AZUL shares. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective for the company. in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their price target on Azul from $3.60 to $3.10 and set a “neutral” rating for the company in a report on Thursday, December 19th. Hsbc Global Res raised shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Finally, Seaport Res Ptn cut shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.46.

Azul Trading Up 1.9 %

The stock’s 50 day moving average price is $2.54 and its two-hundred day moving average price is $3.38. The firm has a market capitalization of $695.59 million, a price-to-earnings ratio of -0.23 and a beta of 1.92.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AZUL. XTX Topco Ltd purchased a new position in Azul in the 3rd quarter valued at approximately $614,000. Jane Street Group LLC grew its holdings in Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after purchasing an additional 75,291 shares during the last quarter. Centiva Capital LP increased its position in shares of Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after buying an additional 135,365 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Azul during the 3rd quarter worth $44,000. Finally, Inspire Advisors LLC boosted its position in shares of Azul by 84.0% in the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after buying an additional 18,861 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.