Azul (NYSE:AZUL) Shares Gap Up to $5.68

Azul S.A. (NYSE:AZUL - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $5.68, but opened at $5.94. Azul shares last traded at $5.85, with a volume of 220,046 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AZUL shares. Raymond James reaffirmed an "outperform" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. Bank of America reaffirmed an "underperform" rating and issued a $9.50 price objective (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Finally, Barclays cut their price objective on shares of Azul from $14.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, April 1st. One 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. According to MarketBeat, Azul has a consensus rating of "Moderate Buy" and a consensus price target of $12.26.

Azul Price Performance

The firm has a market cap of $2.48 billion, a PE ratio of -6.31 and a beta of 1.85. The business's 50 day moving average price is $7.30 and its 200 day moving average price is $8.33.

Azul (NYSE:AZUL - Get Free Report) last released its 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts predict that Azul S.A. will post -0.75 earnings per share for the current year.

Institutional Trading of Azul

Institutional investors and hedge funds have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC acquired a new position in Azul during the third quarter worth about $4,999,000. Canada Pension Plan Investment Board acquired a new position in Azul during the third quarter worth about $4,712,000. Landscape Capital Management L.L.C. boosted its position in Azul by 151.3% during the third quarter. Landscape Capital Management L.L.C. now owns 146,654 shares of the company's stock worth $1,260,000 after acquiring an additional 88,286 shares during the last quarter. U S Global Investors Inc. boosted its holdings in Azul by 10.4% in the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company's stock valued at $6,797,000 after purchasing an additional 82,077 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in Azul in the 3rd quarter valued at about $341,000. Hedge funds and other institutional investors own 0.82% of the company's stock.

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.