Azul (NYSE:AZUL) Trading Down 9.4% - What's Next?

Azul S.A. (NYSE:AZUL - Get Free Report)'s share price traded down 9.4% on Tuesday . The stock traded as low as $1.49 and last traded at $1.50. 1,898,457 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 1,837,347 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

AZUL has been the subject of a number of recent analyst reports. Seaport Res Ptn cut Azul from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Raymond James dropped their target price on shares of Azul from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Azul from $2.70 to $2.40 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.67.

Azul Stock Up 0.2 %

The stock has a market capitalization of $650.48 million, a price-to-earnings ratio of -0.22 and a beta of 1.59. The business's 50-day moving average is $1.73 and its two-hundred day moving average is $2.19.

Institutional Investors Weigh In On Azul

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in Azul by 58.9% during the third quarter. Jane Street Group LLC now owns 203,190 shares of the company's stock worth $699,000 after purchasing an additional 75,291 shares during the period. Perpetual Ltd boosted its stake in shares of Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company's stock valued at $4,132,000 after purchasing an additional 119,023 shares during the period. Van ECK Associates Corp grew its stake in shares of Azul by 16.3% in the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company's stock worth $106,000 after acquiring an additional 8,899 shares in the last quarter. Trellis Wealth Advisors LLC purchased a new stake in shares of Azul during the fourth quarter worth $32,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Azul in the fourth quarter valued at $117,000. 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.