Azul (NYSE:AZUL) Shares Gap Down – Here’s Why

Azul S.A. (NYSE:AZUL) gapped down before the market opened on Thursday . The stock had previously closed at $2.57, but opened at $2.51. Azul shares last traded at $2.56, with a volume of 178,402 shares traded.

Wall Street Analyst Weigh In

AZUL has been the topic of several recent analyst reports. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Barclays lowered their target price on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $6.70 to $4.00 in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.59.

Azul Stock Down 0.4 %

The business’s 50 day moving average price is $2.98 and its 200-day moving average price is $4.01.

Institutional Investors Weigh In On Azul

Several hedge funds and other institutional investors have recently made changes to their positions in AZUL. Coronation Fund Managers Ltd. increased its stake in Azul by 9.5% in the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares during the period. Signaturefd LLC lifted its stake in shares of Azul by 35.9% in the 2nd 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 period. Inspire Advisors LLC increased its stake in shares of Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares during the period. Marshall Wace LLP lifted its position in 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 purchasing an additional 575,344 shares during the period. Finally, 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 in the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

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.