Azul (NYSE:AZUL) Shares Up 6.6% – What’s Next?

Shares of Azul S.A. (NYSE:AZUL) rose 6.6% on Wednesday . The company traded as high as $1.86 and last traded at $1.85. Approximately 233,368 shares were traded during trading, a decline of 83% from the average daily volume of 1,338,599 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

Several brokerages have commented on AZUL. Raymond James decreased their target price on shares of Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their target price on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Azul has a consensus rating of “Hold” and a consensus price target of $5.40.

Azul Stock Performance

The stock has a market capitalization of $790.45 million, a PE ratio of -0.26 and a beta of 1.98. The company’s fifty day simple moving average is $2.02 and its two-hundred day simple moving average is $2.52.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new position in Azul during the third quarter worth $35,000. Centiva Capital LP boosted its stake in shares of Azul by 205.3% during the third 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 during the last quarter. Jane Street Group LLC increased its position in Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares in the last quarter. XTX Topco Ltd acquired a new position in Azul in the 3rd quarter valued at about $614,000. Finally, Perpetual Ltd lifted its holdings in Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock valued at $4,132,000 after purchasing an additional 119,023 shares in the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.