Azul (NYSE:AZUL) Shares Gap Down to $4.74

Azul S.A. (NYSE:AZUL) gapped down prior to trading on Friday . The stock had previously closed at $4.74, but opened at $4.61. Azul shares last traded at $4.63, with a volume of 94,151 shares.

Analysts Set New Price Targets

AZUL has been the topic of a number of research analyst reports. Barclays dropped their price target on Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Bank of America reiterated an “underperform” rating and set a $9.50 price objective (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. Morgan Stanley started coverage on Azul in a research report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 target price on the stock. Finally, Raymond James reaffirmed an “outperform” rating and set a $12.00 price target (down previously from $13.00) on shares of Azul in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.12.

Azul Stock Up 2.5 %

The stock’s 50 day moving average price is $5.21 and its two-hundred day moving average price is $6.79. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -1.99 and a beta of 2.01.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The business had revenue of $945.00 million for the quarter, compared to the consensus estimate of $968.17 million. On average, analysts predict that Azul S.A. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Several hedge funds have recently bought and sold shares of AZUL. Aigen Investment Management LP acquired a new stake in shares of Azul during the 4th quarter valued at about $214,000. Coronation Fund Managers Ltd. boosted its position in Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after purchasing an additional 3,450 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Azul by 46.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock valued at $659,000 after purchasing an additional 21,549 shares during the period. Quantbot Technologies LP increased its position in shares of Azul by 310.0% in the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after buying an additional 24,054 shares in the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Azul by 19.4% during the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after buying an additional 3,042 shares during the period. Hedge funds and other 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.