Azul (NYSE:AZUL) Stock Price Down 1.8% – Here’s What Happened

Shares of Azul S.A. (NYSE:AZUL) traded down 1.8% on Tuesday . The company traded as low as $1.65 and last traded at $1.65. 87,544 shares traded hands during trading, a decline of 95% from the average session volume of 1,912,254 shares. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

AZUL has been the subject of several analyst reports. HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a report on Thursday, September 5th. Hsbc Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their price objective on Azul from $3.60 to $3.10 and set a “neutral” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.46.

Azul Stock Performance

The firm has a market capitalization of $704.02 million, a PE ratio of -0.24 and a beta of 1.92. The company has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $3.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning purchased a new stake in shares of Azul in the 3rd quarter worth approximately $35,000. Signaturefd LLC lifted its holdings in Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the period. Ground Swell Capital LLC bought a new stake in Azul during the 3rd quarter valued at $44,000. Sanctuary Advisors LLC purchased a new position in shares of Azul in the 2nd quarter valued at $51,000. Finally, Inspire Advisors LLC raised its position in shares of Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares in the last quarter. 0.82% of the stock is currently owned by institutional investors.

About Azul

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.