Azul S.A. (NYSE:AZUL) Short Interest Down 5.7% in October

Azul S.A. (NYSE:AZUL) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 7,270,000 shares, a drop of 5.7% from the October 15th total of 7,710,000 shares. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On Azul

A number of hedge funds have recently added to or reduced their stakes in AZUL. XTX Topco Ltd acquired a new position in shares of Azul during the third quarter valued at $614,000. Jane Street Group LLC lifted its holdings in Azul by 58.9% in 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. Centiva Capital LP lifted its holdings in Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after purchasing an additional 135,365 shares during the period. Ground Swell Capital LLC acquired a new stake in Azul in the third quarter worth about $44,000. Finally, Inspire Advisors LLC lifted its holdings in Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after purchasing an additional 18,861 shares during the period. Institutional investors and hedge funds own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AZUL shares. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. HSBC cut shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. Hsbc Global Res raised shares of Azul to a “hold” rating in a research report on Thursday, September 5th. Barclays decreased their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and reduced their price target for the company from $6.70 to $4.00 in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Trading Down 2.0 %

Shares of NYSE:AZUL opened at $2.51 on Wednesday. The firm has a market cap of $1.06 billion, a PE ratio of -0.35 and a beta of 1.99. The company has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $4.02. Azul has a 12-month low of $2.02 and a 12-month high of $11.11.

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.