Azul (NYSE:AZUL) Shares Gap Down to $4.24

Azul S.A. (NYSE:AZUL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.24, but opened at $4.12. Azul shares last traded at $4.05, with a volume of 385,575 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America reaffirmed an “underperform” rating and set a $9.50 price objective (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Morgan Stanley assumed coverage on Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price target for the company. Barclays dropped their price objective on Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Raymond James restated an “outperform” rating and set a $12.00 target price (down previously from $13.00) on shares of Azul in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. One investment 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.com, Azul currently has a consensus rating of “Hold” and a consensus target price of $11.12.

Azul Price Performance

The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -1.64 and a beta of 2.00. The stock has a 50-day moving average price of $4.54 and a 200 day moving average price of $6.16.

Azul (NYSE:AZUL) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The company had revenue of $945.00 million during the quarter, compared to analysts’ expectations of $968.17 million. As a group, equities research analysts predict that Azul S.A. will post -1.03 earnings per share for the current year.

Hedge Funds Weigh In On Azul

Hedge funds have recently modified their holdings of the business. U S Global Investors Inc. increased its position in Azul by 10.4% in the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock valued at $6,797,000 after acquiring an additional 82,077 shares during the period. Quantbot Technologies LP increased its holdings 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 purchasing an additional 24,054 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Azul during the fourth quarter worth approximately $214,000. Dynamic Technology Lab Private Ltd raised its stake in shares of Azul by 46.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after purchasing an additional 21,549 shares during the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares during the period. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.