Azul (NYSE:AZUL) Trading Up 6.6% – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s share price shot up 6.6% during mid-day trading on Wednesday . The company traded as high as $2.36 and last traded at $2.34. 158,175 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,181,243 shares. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

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

Azul Price Performance

The company has a market cap of $975.93 million, a price-to-earnings ratio of -0.33 and a beta of 1.95. The business’s fifty day moving average price is $2.14 and its 200 day moving average price is $3.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning acquired a new position in shares of Azul in the 3rd quarter valued at about $35,000. Ground Swell Capital LLC bought a new stake in Azul in the third quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new position in Azul in the second quarter valued at approximately $51,000. Inspire Advisors LLC boosted its holdings in shares of Azul by 84.0% during the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after buying an additional 18,861 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Azul during the 3rd quarter worth approximately $306,000. 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.