Azul (NYSE:AZUL) Trading Down 9.4% – Here’s Why

Azul S.A. (NYSE:AZUL)’s stock price fell 9.4% during trading on Tuesday . The stock traded as low as $1.49 and last traded at $1.50. 1,898,457 shares were traded during mid-day trading, an increase of 3% from the average session volume of 1,837,347 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AZUL shares. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Raymond James lowered their target price on shares of Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group cut their price target on shares of Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Azul currently has an average rating of “Hold” and an average price target of $5.36.

Azul Price Performance

The stock has a market capitalization of $650.48 million, a P/E ratio of -0.22 and a beta of 1.59. The firm’s 50 day moving average price is $1.74 and its 200 day moving average price is $2.22.

Hedge Funds Weigh In On Azul

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trellis Wealth Advisors LLC bought a new position in Azul in the 4th quarter worth $32,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Azul during the fourth quarter valued at about $42,000. Two Sigma Securities LLC raised its stake in Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after buying an additional 9,038 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Azul by 16.6% in the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after buying an additional 6,844 shares during the period. Finally, Marshall Wace LLP bought a new stake in Azul during the 4th quarter valued at approximately $87,000. Institutional investors 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.