Azul (NYSE:AZUL) Shares Gap Up to $2.09

Azul S.A. (NYSE:AZUL) gapped up prior to trading on Friday . The stock had previously closed at $2.09, but opened at $2.20. Azul shares last traded at $2.22, with a volume of 453,788 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AZUL shares. Morgan Stanley began coverage on shares of Azul in a research note on Friday, May 24th. They set an “equal weight” rating and a $7.40 price target for the company. JPMorgan Chase & Co. cut shares of Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 10th. Hsbc Global Res upgraded Azul to a “hold” rating in a report on Thursday, September 5th. Barclays reduced their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.23.

Azul Trading Up 23.0 %

The company has a 50 day moving average price of $3.90 and a 200 day moving average price of $5.45. The company has a market capitalization of $1.08 billion, a P/E ratio of -0.92 and a beta of 1.97.

Azul (NYSE:AZUL) last released its quarterly earnings data on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The business had revenue of $800.65 million for the quarter, compared to analysts’ expectations of $791.43 million. During the same quarter in the prior year, the company posted ($0.81) EPS. As a group, sell-side analysts forecast that Azul S.A. will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Azul

A number of large investors have recently made changes to their positions in the company. Long Focus Capital Management LLC increased its position in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after acquiring an additional 2,295,000 shares during the period. U S Global Investors Inc. increased its holdings in shares of Azul by 10.4% during the first quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after purchasing an additional 82,077 shares during the period. Marshall Wace LLP raised its position in shares of Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its stake in shares of Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after buying an additional 290,465 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its position in Azul by 46.4% during the fourth 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 in the last quarter. Institutional investors own 0.82% of the company’s stock.

Azul Company Profile

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.