Azul (NYSE:AZUL) Shares Gap Down – Should You Sell?

Shares of Azul S.A. (NYSE:AZUL) gapped down prior to trading on Thursday . The stock had previously closed at $2.57, but opened at $2.51. Azul shares last traded at $2.56, with a volume of 178,402 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AZUL shares. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a report on Thursday, September 5th. Barclays decreased their price target on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a report on Thursday, September 5th. The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.70 to $4.00 in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.59.

Azul Stock Performance

The stock has a market cap of $1.08 billion, a PE ratio of -0.36 and a beta of 1.99. The company’s 50-day moving average price is $2.99 and its 200 day moving average price is $4.00.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning purchased a new stake in Azul in the 3rd quarter valued at about $35,000. Signaturefd LLC raised its stake in shares of Azul by 35.9% in the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Azul in the 3rd quarter worth approximately $44,000. Sanctuary Advisors LLC purchased a new position in shares of Azul during the 2nd quarter worth approximately $51,000. Finally, Inspire Advisors LLC increased its holdings in Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after purchasing an additional 3,764 shares during the last quarter. 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.