Short Interest in Azul S.A. (NYSE:AZUL) Expands By 11.8%

Azul S.A. (NYSE:AZUL) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 8,130,000 shares, an increase of 11.8% from the October 31st total of 7,270,000 shares. Based on an average trading volume of 2,670,000 shares, the short-interest ratio is presently 3.0 days.

Azul Price Performance

Azul stock opened at $2.33 on Wednesday. The business has a 50 day moving average of $2.92 and a 200-day moving average of $3.78. Azul has a 1 year low of $2.02 and a 1 year high of $10.62. The company has a market capitalization of $980.15 million, a P/E ratio of -0.33 and a beta of 1.92.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AZUL shares. The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. HSBC cut shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective for the company. in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research report on Thursday, September 5th. Finally, Barclays decreased their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.59.

Hedge Funds Weigh In On Azul

Institutional investors have recently modified their holdings of the company. SPX Gestao de Recursos Ltda grew its stake in shares of Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after acquiring an additional 290,465 shares during the period. Long Focus Capital Management LLC raised its holdings in shares of Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares in the last quarter. Creative Planning bought a new stake in shares of Azul in the 3rd quarter worth approximately $35,000. Finally, Perpetual Ltd boosted its position in shares of Azul by 4.5% during the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after purchasing an additional 100,639 shares in the last quarter. 0.82% of the stock is owned by institutional investors and hedge funds.

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.