Azul (NYSE:AZUL) Stock Price Down 3.4%

Shares of Azul S.A. (NYSE:AZUL) were down 3.4% during mid-day trading on Wednesday . The company traded as low as $3.39 and last traded at $3.41. Approximately 1,813,873 shares were traded during trading, a decline of 9% from the average daily volume of 2,002,401 shares. The stock had previously closed at $3.53.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZUL shares. Hsbc Global Res raised Azul to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HSBC lowered Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a research report on Thursday, September 5th. JPMorgan Chase & Co. downgraded Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Finally, Barclays reduced their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Azul presently has an average rating of “Hold” and an average target price of $8.23.

Azul Price Performance

The company has a fifty day moving average of $3.80 and a 200 day moving average of $5.34. The firm has a market capitalization of $1.38 billion, a P/E ratio of -1.36 and a beta of 1.97.

Azul (NYSE:AZUL) last released its earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The firm had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same period in the previous year, the company posted ($0.81) earnings per share. On average, sell-side analysts forecast that Azul S.A. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AZUL. Long Focus Capital Management LLC boosted its holdings in Azul by 106.3% in the second 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 in the last quarter. Marshall Wace LLP increased its holdings in shares of Azul by 2,466.5% in 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. SPX Gestao de Recursos Ltda raised its position in Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after buying an additional 290,465 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Azul by 46.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock valued at $659,000 after buying an additional 21,549 shares during the period. Finally, Quantbot Technologies LP boosted its position in Azul by 310.0% in 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 last quarter. Institutional investors own 0.82% of the company’s stock.

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.