Azul (NYSE:AZUL) Shares Gap Down to $6.05

Azul S.A. (NYSE:AZUL) gapped down prior to trading on Thursday . The stock had previously closed at $6.05, but opened at $5.77. Azul shares last traded at $5.69, with a volume of 654,621 shares traded.

Analyst Upgrades and Downgrades

AZUL has been the topic of several recent research reports. Raymond James reaffirmed an “outperform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Azul in a research note on Monday. Bank of America reiterated an “underperform” rating and set a $9.50 target price (down previously from $18.00) on shares of Azul in a research report on Thursday. Finally, Barclays cut their target price on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.26.

Azul Stock Performance

The stock has a market cap of $2.46 billion, a PE ratio of -6.08 and a beta of 1.85. The stock has a fifty day moving average price of $7.53 and a 200 day moving average price of $8.42.

Hedge Funds Weigh In On Azul

A number of institutional investors and hedge funds have recently modified their holdings of AZUL. Capital Research Global Investors lifted its stake in shares of Azul by 3.0% during the 1st quarter. Capital Research Global Investors now owns 13,032,134 shares of the company’s stock worth $196,134,000 after acquiring an additional 374,935 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Azul by 296.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 4,384,995 shares of the company’s stock valued at $31,353,000 after purchasing an additional 3,280,010 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in Azul by 551.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company’s stock valued at $14,296,000 after purchasing an additional 1,980,852 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Azul by 293.1% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company’s stock valued at $7,441,000 after purchasing an additional 775,936 shares in the last quarter. Finally, U S Global Investors Inc. raised its position in Azul by 23.9% during the 3rd quarter. U S Global Investors Inc. now owns 892,462 shares of the company’s stock valued at $7,666,000 after purchasing an additional 172,348 shares in the last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.