Azul (NYSE:AZUL) Shares Down 4.7% – Time to Sell?

Shares of Azul S.A. (NYSE:AZUL) dropped 4.7% on Thursday . The stock traded as low as $2.34 and last traded at $2.35. Approximately 408,127 shares traded hands during trading, a decline of 68% from the average daily volume of 1,292,271 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

AZUL has been the topic of several research reports. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group cut their target price on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Azul has an average rating of “Hold” and a consensus target price of $6.40.

Azul Price Performance

The company’s 50 day moving average is $2.15 and its 200 day moving average is $3.02. The stock has a market cap of $992.80 million, a price-to-earnings ratio of -0.33 and a beta of 1.95.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Perpetual Ltd increased its position in Azul by 5.1% during the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after purchasing an additional 119,023 shares in the last quarter. XTX Topco Ltd acquired a new position in Azul in the 3rd quarter valued at $614,000. Jane Street Group LLC lifted its stake in shares of Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the period. Centiva Capital LP grew its position in shares of Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after purchasing an additional 135,365 shares during the period. Finally, Ground Swell Capital LLC purchased a new position in Azul during the third quarter worth about $44,000. Hedge funds and other 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.