Azul (NYSE:AZUL) Stock Price Down 4.9% on Analyst Downgrade

Azul S.A. (NYSE:AZUL)’s share price was down 4.9% during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $3.10 to $2.70. The Goldman Sachs Group currently has a neutral rating on the stock. Azul traded as low as $2.25 and last traded at $2.24. Approximately 835,223 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,222,674 shares. The stock had previously closed at $2.35.

Separately, 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 issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.40.

Hedge Funds Weigh In On Azul

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new stake in shares of Azul in the 3rd quarter worth approximately $35,000. Ground Swell Capital LLC bought a new stake in Azul during the third quarter valued at about $44,000. Sanctuary Advisors LLC purchased a new position in Azul in the second quarter valued at about $51,000. Inspire Advisors LLC raised its holdings in Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after purchasing an additional 18,861 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Azul during the third quarter valued at about $306,000. Institutional investors own 0.82% of the company’s stock.

Azul Stock Performance

The business’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $3.06. The firm has a market capitalization of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95.

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.