Azul (NYSE:AZUL) Stock Price Down 4.8% – Here’s Why

Azul S.A. (NYSE:AZUL)’s stock price was down 4.8% during mid-day trading on Wednesday . The company traded as low as $2.58 and last traded at $2.59. Approximately 812,396 shares changed hands during trading, a decline of 58% from the average daily volume of 1,951,244 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 report on Thursday, September 5th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Hsbc Global Res upgraded Azul to a “hold” rating in a research report on Thursday, September 5th. Finally, Barclays decreased their target price on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.59.

Azul Price Performance

The company has a market cap of $1.10 billion, a PE ratio of -0.37 and a beta of 1.99. The stock has a fifty day moving average price of $2.94 and a 200-day moving average price of $3.87.

Institutional Investors Weigh In On Azul

Several hedge funds have recently bought and sold shares of AZUL. Coronation Fund Managers Ltd. increased its holdings in shares of Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares during the period. Signaturefd LLC boosted its holdings in shares of Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares during the period. Inspire Advisors LLC grew its position in Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares in the last quarter. Creative Planning acquired a new position in Azul in the 3rd quarter valued at approximately $35,000. Finally, Ground Swell Capital LLC purchased a new stake in Azul in the 3rd quarter worth approximately $44,000. 0.82% of the stock is 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.