Azul (NYSE:AZUL) Trading Down 6.7% – Here’s Why

Azul S.A. (NYSE:AZUL) was down 6.7% on Wednesday . The company traded as low as $1.95 and last traded at $1.90. Approximately 191,533 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,375,986 shares. The stock had previously closed at $2.03.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AZUL shares. Raymond James lowered their price target on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group lowered their price target on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Azul presently has an average rating of “Hold” and an average target price of $5.40.

Azul Price Performance

The firm has a market cap of $760.93 million, a price-to-earnings ratio of -0.25 and a beta of 2.00. The company has a fifty day moving average price of $2.00 and a two-hundred day moving average price of $2.67.

Institutional Trading of Azul

Several institutional investors have recently modified their holdings of the company. Trellis Wealth Advisors LLC purchased a new stake in shares of Azul during the fourth quarter valued at $32,000. Creative Planning purchased a new stake in shares of Azul during the third quarter valued at $35,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Azul during the fourth quarter valued at $42,000. Ground Swell Capital LLC purchased a new stake in shares of Azul during the third quarter valued at $44,000. Finally, Two Sigma Securities LLC lifted its holdings in shares of Azul by 44.6% during the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after purchasing an additional 9,038 shares during the last quarter. 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.