Azul (NYSE:AZUL) Sees Large Volume Increase

Azul S.A. (NYSE:AZUL) shares saw unusually-strong trading volume on Monday . Approximately 891,276 shares were traded during mid-day trading, a decline of 54% from the previous session’s volume of 1,957,149 shares.The stock last traded at $2.88 and had previously closed at $2.77.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Hsbc Global Res upgraded Azul to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. HSBC cut shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a research note on Thursday, September 5th. Morgan Stanley assumed coverage on Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective on the stock. Finally, Barclays dropped their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Azul currently has an average rating of “Hold” and a consensus target price of $8.23.

Azul Stock Performance

The stock has a fifty day simple moving average of $3.86 and a 200-day simple moving average of $5.39. The stock has a market cap of $1.25 billion, a P/E ratio of -1.20 and a beta of 1.97.

Azul (NYSE:AZUL) last posted its quarterly earnings data on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The company had revenue of $800.65 million during the quarter, compared to analyst estimates of $791.43 million. During the same period in the previous year, the firm posted ($0.81) EPS. On average, research analysts anticipate that Azul S.A. will post -1.39 earnings per share for the current year.

Institutional Trading of Azul

Several institutional investors and hedge funds have recently bought and sold shares of AZUL. Aigen Investment Management LP bought a new stake in shares of Azul during the 4th quarter worth approximately $214,000. Quantbot Technologies LP grew its position 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 acquiring an additional 24,054 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Azul by 16.0% during the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after purchasing an additional 3,450 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings 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 valued at $659,000 after purchasing an additional 21,549 shares during the period. Finally, Inspire Advisors LLC lifted its stake in Azul by 19.4% in the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after purchasing an additional 3,042 shares during the last quarter. 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.