Azul (NYSE:AZUL) Trading Down 4.7% – Time to Sell?

Azul S.A. (NYSE:AZUL)’s stock price fell 4.7% on Thursday . The stock traded as low as $2.34 and last traded at $2.35. 408,127 shares traded hands during trading, a decline of 68% from the average session volume of 1,292,271 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZUL. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Azul currently has an average rating of “Hold” and a consensus price target of $6.40.

Azul Stock Performance

The stock has a 50 day moving average of $2.13 and a two-hundred day moving average of $3.00. The firm has a market capitalization of $975.93 million, a P/E ratio of -0.33 and a beta of 1.95.

Institutional Trading of Azul

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC boosted its holdings in Azul by 106.3% in 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 purchasing an additional 2,295,000 shares during the period. Marshall Wace LLP lifted its stake in shares of Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares during the period. SPX Gestao de Recursos Ltda grew its position in Azul by 13,831.7% during the second 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. XTX Topco Ltd bought a new position in Azul during the third quarter valued at about $614,000. Finally, Centiva Capital LP raised its holdings in Azul by 205.3% in the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after acquiring an additional 135,365 shares in the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

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.