Azul (NYSE:AZUL) Shares Up 9.8% – Should You Buy?

Azul S.A. (NYSE:AZUL) was up 9.8% on Monday . The stock traded as high as $2.82 and last traded at $2.80. Approximately 2,654,271 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 1,956,196 shares. The stock had previously closed at $2.55.

Analysts Set New Price Targets

AZUL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Barclays cut their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.70 to $4.00 in a research report on Monday, September 23rd. Hsbc Global Res raised Azul to a “hold” rating in a report on Thursday, September 5th. Finally, Seaport Res Ptn lowered Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Azul has a consensus rating of “Hold” and a consensus target price of $6.59.

Azul Stock Performance

The company has a 50-day moving average price of $2.98 and a 200-day moving average price of $3.94. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -0.39 and a beta of 1.99.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. increased its stake in Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares in the last quarter. Signaturefd LLC increased its stake in shares of Azul by 35.9% during 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 last quarter. Inspire Advisors LLC lifted its holdings in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares during the period. Marshall Wace LLP grew its holdings in 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 purchasing an additional 575,344 shares during the period. Finally, Long Focus Capital Management LLC raised its stake 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 purchasing an additional 2,295,000 shares during the period. 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.