Azul (NYSE:AZUL) Trading Down 1.8% – Time to Sell?

Azul S.A. (NYSE:AZUL) fell 1.8% during trading on Tuesday . The stock traded as low as $1.65 and last traded at $1.65. 87,544 shares changed hands during trading, a decline of 95% from the average session volume of 1,912,254 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

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

Azul Stock Performance

The company has a market cap of $704.02 million, a price-to-earnings ratio of -0.24 and a beta of 1.92. The company’s fifty day moving average is $2.36 and its two-hundred day moving average is $3.25.

Institutional Trading of Azul

Hedge funds and other institutional investors have recently made changes to their positions in the business. SPX Gestao de Recursos Ltda boosted its holdings in Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Long Focus Capital Management LLC lifted its holdings in shares of 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 buying an additional 2,295,000 shares during the period. Marshall Wace LLP boosted 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 worth $2,395,000 after buying an additional 575,344 shares during the last quarter. Creative Planning acquired a new stake in Azul during the third quarter worth about $35,000. Finally, Perpetual Ltd lifted its holdings in Azul by 4.5% in the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after acquiring an additional 100,639 shares during the period. 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.