Azul (NYSE:AZUL) Trading Up 6% – Still a Buy?

Azul S.A. (NYSE:AZUL) was up 6% during trading on Thursday . The stock traded as high as $1.80 and last traded at $1.79. Approximately 875,981 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,933,803 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

Several equities analysts have commented on AZUL shares. HSBC downgraded shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a research note on Thursday, September 5th. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. The Goldman Sachs Group lowered their price objective on Azul from $3.60 to $3.10 and set a “neutral” rating for the company in a research report on Thursday. Finally, Hsbc Global Res raised shares of Azul to a “hold” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.46.

Azul Price Performance

The business’s 50-day moving average price is $2.69 and its 200-day moving average price is $3.51. The firm has a market capitalization of $762.58 million, a PE ratio of -0.25 and a beta of 1.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Long Focus Capital Management LLC raised its holdings in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after purchasing an additional 2,295,000 shares in the last quarter. Perpetual Ltd raised its stake in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after buying an additional 100,639 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after buying an additional 575,344 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in shares of Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after buying an additional 290,465 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after buying an additional 75,291 shares in the last quarter. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.