Azul (NYSE:AZUL) Trading Down 4.9% Following Analyst Downgrade

Azul S.A. (NYSE:AZUL) shares fell 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. 835,223 shares changed hands during trading, a decline of 32% from the average session volume of 1,222,674 shares. The stock had previously closed at $2.35.

Separately, Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.40.

Institutional Trading of Azul

Hedge funds and other institutional investors have recently bought and sold shares of the business. SPX Gestao de Recursos Ltda raised its position in shares of Azul by 13,831.7% in the second 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 in the last quarter. Jane Street Group LLC raised its holdings in Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after acquiring an additional 75,291 shares in the last quarter. Long Focus Capital Management LLC lifted its position in shares of Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares during the period. Marshall Wace LLP grew its holdings 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 purchasing an additional 575,344 shares in the last quarter. Finally, Creative Planning acquired a new position in Azul in the third quarter valued at about $35,000. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Stock Down 5.3 %

The firm has a market cap of $938.00 million, a price-to-earnings ratio of -0.31 and a beta of 1.95. The stock has a 50 day moving average of $2.18 and a 200 day moving average of $3.07.

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.