Azul S.A. (NYSE:AZUL) Sees Significant Growth in Short Interest

Azul S.A. (NYSE:AZUL) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 7,660,000 shares, an increase of 27.9% from the June 15th total of 5,990,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is currently 3.9 days.

Azul Stock Performance

Shares of AZUL opened at $4.96 on Tuesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -2.03 and a beta of 2.01. The company’s 50 day simple moving average is $5.18 and its 200 day simple moving average is $6.73. Azul has a 1 year low of $3.70 and a 1 year high of $12.16.

Azul (NYSE:AZUL) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The company had revenue of $945.00 million for the quarter, compared to analyst estimates of $968.17 million. Equities analysts expect that Azul will post -0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Azul

Several institutional investors and hedge funds have recently modified their holdings of the company. Inspire Advisors LLC lifted its stake in shares of Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after buying an additional 3,042 shares during the period. Coronation Fund Managers Ltd. raised its stake in Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after purchasing an additional 3,450 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in 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 period. Aigen Investment Management LP purchased a new position in Azul during the fourth quarter worth approximately $214,000. Finally, Quantbot Technologies LP raised its stake in Azul by 310.0% during the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after purchasing an additional 24,054 shares during the period. Hedge funds and other institutional investors own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley initiated coverage on shares of Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective on the stock. JPMorgan Chase & Co. downgraded shares of Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Barclays reduced their price target on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Bank of America reaffirmed an “underperform” rating and issued a $9.50 price target (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.12.

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.