Azul (NYSE:AZUL) Shares Gap Down to $6.44

Shares of Azul S.A. (NYSE:AZUL - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $6.44, but opened at $6.07. Azul shares last traded at $6.05, with a volume of 315,999 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on AZUL. Raymond James reaffirmed an "outperform" rating and issued a $12.00 target price (down from $13.00) on shares of Azul in a report on Monday, April 15th. Barclays decreased their target price on Azul from $14.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, April 1st. Finally, Bank of America reaffirmed an "underperform" rating and issued a $9.50 target price (down from $18.00) on shares of Azul in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Azul has a consensus rating of "Moderate Buy" and an average target price of $12.26.

Azul Stock Down 0.5 %

The stock has a fifty day simple moving average of $7.10 and a 200 day simple moving average of $8.23. The firm has a market capitalization of $2.70 billion, a P/E ratio of -6.63 and a beta of 1.94.

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

Institutional Investors Weigh In On Azul

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Azul by 66.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company's stock worth $42,000 after purchasing an additional 2,000 shares during the last quarter. Inspire Advisors LLC increased its holdings in shares of Azul by 19.4% in the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company's stock worth $145,000 after purchasing an additional 3,042 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Azul in the fourth quarter worth about $214,000. AXQ Capital LP bought a new stake in shares of Azul in the third quarter worth about $205,000. Finally, Coronation Fund Managers Ltd. grew its position in Azul by 16.0% in the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company's stock worth $194,000 after acquiring an additional 3,450 shares in the last quarter. 0.82% of the stock is owned by institutional investors.

About Azul

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.