Azul (NYSE:AZUL) Shares Down 5.1% – Time to Sell?

Azul S.A. (NYSE:AZUL) shares dropped 5.1% during mid-day trading on Friday . The company traded as low as $1.76 and last traded at $1.76. Approximately 922,539 shares were traded during trading, a decline of 52% from the average daily volume of 1,903,588 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

AZUL has been the subject of several recent research reports. Raymond James lowered their price target on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group reduced their price target on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.40.

Azul Stock Performance

The stock has a market cap of $731.43 million, a price-to-earnings ratio of -0.24 and a beta of 1.98. The firm’s 50-day simple moving average is $2.01 and its two-hundred day simple moving average is $2.37.

Hedge Funds Weigh In On Azul

Several large investors have recently bought and sold shares of the business. Inspire Advisors LLC raised its position in shares of Azul by 16.6% during the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock valued at $80,000 after acquiring an additional 6,844 shares during the last quarter. Van ECK Associates Corp increased its holdings in Azul by 16.3% in the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after purchasing an additional 8,899 shares during the last quarter. Two Sigma Securities LLC lifted its stake in Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after buying an additional 9,038 shares during the period. Trellis Wealth Advisors LLC bought a new position in Azul during the fourth quarter worth about $32,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Azul during the fourth quarter worth about $42,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.