Azul (NYSE:AZUL) Shares Gap Down to $3.06

Azul S.A. (NYSE:AZUL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.06, but opened at $2.96. Azul shares last traded at $3.09, with a volume of 277,775 shares trading hands.

Wall Street Analysts Forecast Growth

AZUL has been the subject of a number of research analyst reports. 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. Deutsche Bank Aktiengesellschaft cut their price target 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 Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. Barclays lowered their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Morgan Stanley started coverage on shares of Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Azul currently has a consensus rating of “Hold” and a consensus price target of $8.23.

Azul Price Performance

The firm has a market capitalization of $1.36 billion, a PE ratio of -1.32 and a beta of 1.97. The company’s fifty day simple moving average is $3.80 and its 200 day simple moving average is $5.34.

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

Hedge Funds Weigh In On Azul

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZUL. Signaturefd LLC boosted its position in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Azul during the second quarter valued at approximately $51,000. Inspire Advisors LLC grew its stake in Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 shares in the last quarter. 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 worth $109,000 after buying an additional 2,380 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Azul during the 4th quarter valued at $214,000. 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.