Azul (NYSE:AZUL) Trading Down 4.9% Following Analyst Downgrade

Shares of Azul S.A. (NYSE:AZUL) were down 4.9% during mid-day trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $3.10 to $2.70. The Goldman Sachs Group currently has a neutral rating on the stock. Azul traded as low as $2.25 and last traded at $2.24. Approximately 835,223 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 1,222,674 shares. The stock had previously closed at $2.35.

Separately, Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Azul currently has a consensus rating of “Hold” and a consensus target price of $6.40.

Institutional Trading of Azul

Several hedge funds have recently modified their holdings of AZUL. Long Focus Capital Management LLC boosted its holdings in shares of Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after purchasing an additional 2,295,000 shares during the period. 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 increased 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 acquiring an additional 290,465 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Azul in the 3rd quarter worth about $614,000. Finally, Centiva Capital LP boosted its stake in shares of Azul by 205.3% during the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after purchasing an additional 135,365 shares during the period. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Stock Performance

The company has a market capitalization of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95. The firm’s fifty day moving average is $2.17 and its 200 day moving average is $3.06.

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.