Azul (NYSE:AZUL) Shares Gap Down to $2.90

Azul S.A. (NYSE:AZUL) gapped down prior to trading on Monday . The stock had previously closed at $2.90, but opened at $2.66. Azul shares last traded at $2.77, with a volume of 499,885 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on AZUL. Hsbc Global Res raised shares of Azul to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Barclays dropped their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group downgraded shares of Azul from a “buy” rating to a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.23.

Azul Price Performance

The business’s fifty day moving average price is $3.70 and its 200-day moving average price is $5.24. The stock has a market capitalization of $1.23 billion, a PE ratio of -1.16 and a beta of 1.97.

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

Institutional Trading of Azul

Institutional investors have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC boosted its position in shares of Azul by 106.3% during 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 purchasing an additional 2,295,000 shares in the last quarter. Marshall Wace LLP increased its position in Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after acquiring an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in Azul by 13,831.7% during 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 during the period. Quantbot Technologies LP increased its stake in shares of Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after purchasing an additional 24,054 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Azul in the fourth quarter worth about $214,000. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.