Azul (NYSE:AZUL) Hits New 52-Week Low at $5.16

Azul S.A. (NYSE:AZUL - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.16 and last traded at $5.30, with a volume of 1088405 shares changing hands. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

AZUL has been the subject of several research reports. Barclays reduced their price target on shares of Azul from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, April 1st. Bank of America restated an "underperform" rating and set a $9.50 price objective (down previously from $18.00) on shares of Azul in a research report on Thursday, April 18th. Finally, Raymond James restated an "outperform" rating and set a $12.00 price objective (down previously from $13.00) on shares of Azul in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.26.

Azul Trading Down 3.8 %

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -5.78 and a beta of 1.85. The stock's 50 day moving average price is $7.37 and its two-hundred day moving average price is $8.35.

Azul (NYSE:AZUL - Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.25). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts forecast that Azul S.A. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Azul

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in Azul by 66.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company's stock valued at $42,000 after acquiring an additional 2,000 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in Azul in the 3rd quarter valued at about $158,000. Aigen Investment Management LP acquired a new stake in Azul in the 4th quarter valued at about $214,000. AXQ Capital LP acquired a new stake in Azul in the 3rd quarter valued at about $205,000. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of Azul during the 3rd quarter worth about $341,000. 0.82% of the stock is owned by institutional investors and hedge funds.

Azul Company Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.