Azul S.A. (NYSE:AZUL) Sees Large Increase in Short Interest

Azul S.A. (NYSE:AZUL) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 9,310,000 shares, a growth of 32.1% from the July 15th total of 7,050,000 shares. Based on an average daily trading volume, of 1,750,000 shares, the days-to-cover ratio is presently 5.3 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut their price target on Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Bank of America reiterated an “underperform” rating and issued a $9.50 price objective (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Finally, Morgan Stanley initiated coverage on shares of Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Azul presently has an average rating of “Hold” and a consensus price target of $10.39.

Hedge Funds Weigh In On Azul

Several institutional investors and hedge funds have recently modified their holdings of the company. Coronation Fund Managers Ltd. increased its stake in shares of Azul by 9.5% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after acquiring an additional 2,380 shares during the last quarter. Signaturefd LLC grew its stake in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after buying an additional 2,812 shares during the period. Inspire Advisors LLC grew its stake in shares of Azul by 19.4% during the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after buying an additional 3,042 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of Azul by 46.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after buying an additional 21,549 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of Azul in the 4th quarter worth $214,000. Hedge funds and other institutional investors own 0.82% of the company’s stock.

Azul Price Performance

Shares of AZUL stock traded up $0.02 during midday trading on Thursday, reaching $4.24. 1,968,261 shares of the company traded hands, compared to its average volume of 1,677,851. The firm’s 50 day simple moving average is $4.44 and its two-hundred day simple moving average is $6.07. The firm has a market cap of $1.79 billion, a PE ratio of -1.74 and a beta of 2.00. Azul has a 1-year low of $3.70 and a 1-year high of $11.26.

Azul (NYSE:AZUL) last announced its earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The business had revenue of $800.65 million during the quarter, compared to analysts’ expectations of $791.43 million. During the same quarter in the previous year, the business posted ($0.81) EPS. As a group, research analysts anticipate that Azul will post -1.03 earnings per share for the current fiscal year.

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.