Azul (NYSE:AZUL) Shares Gap Up – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.16, but opened at $2.30. Azul shares last traded at $2.24, with a volume of 460,602 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on Azul from $3.60 to $3.10 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Seaport Res Ptn cut shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.46.

Azul Stock Performance

The business’s 50 day moving average price is $2.18 and its two-hundred day moving average price is $3.08. The company has a market capitalization of $978.04 million, a price-to-earnings ratio of -0.33 and a beta of 1.95.

Institutional Investors Weigh In On Azul

A number of institutional investors have recently added to or reduced their stakes in AZUL. Long Focus Capital Management LLC raised its stake 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 worth $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Marshall Wace LLP grew its holdings in Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after acquiring an additional 575,344 shares during the period. SPX Gestao de Recursos Ltda grew its holdings 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 acquiring an additional 290,465 shares during the period. XTX Topco Ltd bought a new stake in Azul in the third quarter worth about $614,000. Finally, Centiva Capital LP lifted 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 during the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.