Azul (NYSE:AZUL) Sets New 12-Month Low at $4.56

Azul S.A. (NYSE:AZUL) shares reached a new 52-week low on Thursday . The stock traded as low as $4.56 and last traded at $4.59, with a volume of 418677 shares traded. The stock had previously closed at $4.68.

Analyst Upgrades and Downgrades

Several research firms have commented on AZUL. Raymond James reiterated an “outperform” rating and set a $12.00 price objective (down from $13.00) on shares of Azul in a research note on Monday, April 15th. Bank of America reiterated an “underperform” rating and set a $9.50 price target (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Morgan Stanley initiated coverage on Azul in a report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price objective on the stock. Finally, Barclays lowered their target price on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.12.

Azul Stock Down 4.3 %

The stock has a 50-day moving average of $5.77 and a 200 day moving average of $7.45. The stock has a market cap of $1.89 billion, a PE ratio of -1.92 and a beta of 2.05.

Azul (NYSE:AZUL) last issued its earnings results on Monday, May 13th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The business had revenue of $945.00 million during the quarter, compared to analyst estimates of $968.17 million. Research analysts forecast that Azul S.A. will post -0.93 EPS for the current fiscal year.

Institutional Trading of Azul

Several hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new position in Azul in the third quarter valued at approximately $4,999,000. U S Global Investors Inc. raised its position in Azul by 10.4% in the first 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 period. Quantbot Technologies LP lifted its stake in shares of Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after purchasing an additional 24,054 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Azul during the 3rd quarter worth $205,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Azul during the 4th quarter worth about $214,000. Hedge funds and other institutional investors own 0.82% of the company’s stock.

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.