Azul (NYSE:AZUL) Shares Up 4.2% – Here’s What Happened

Shares of Azul S.A. (NYSE:AZUL) traded up 4.2% on Wednesday . The company traded as high as $1.84 and last traded at $1.86. 21,522 shares were traded during trading, a decline of 98% from the average session volume of 1,233,727 shares. The stock had previously closed at $1.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AZUL shares. The Goldman Sachs Group reduced their price objective on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Raymond James decreased their price target on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Azul has an average rating of “Hold” and a consensus target price of $5.40.

Azul Stock Performance

The firm has a market capitalization of $777.80 million, a P/E ratio of -0.26 and a beta of 1.98. The firm has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $2.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AZUL. Trellis Wealth Advisors LLC purchased a new stake in Azul in the 4th quarter valued at about $32,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Azul during the fourth quarter valued at approximately $42,000. Two Sigma Securities LLC lifted its holdings in Azul by 44.6% during the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after acquiring an additional 9,038 shares during the period. Inspire Advisors LLC boosted its position in Azul by 16.6% in the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after purchasing an additional 6,844 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Azul in the fourth quarter worth $87,000. 0.82% of the stock is owned by institutional investors.

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.