Azul (NYSE:AZUL) Shares Gap Down to $4.27

Azul S.A. (NYSE:AZUL) gapped down before the market opened on Friday . The stock had previously closed at $4.27, but opened at $4.10. Azul shares last traded at $4.08, with a volume of 145,855 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZUL. Bank of America restated an “underperform” rating and set a $9.50 target price (down from $18.00) on shares of Azul in a report on Thursday, April 18th. Barclays cut their price objective on Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Morgan Stanley initiated coverage on Azul in a report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price target for the company. Finally, Raymond James reaffirmed an “outperform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Azul currently has an average rating of “Hold” and a consensus target price of $11.12.

Azul Trading Down 4.9 %

The stock has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $7.23. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -1.65 and a beta of 2.05.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The firm had revenue of $945.00 million during the quarter, compared to the consensus estimate of $968.17 million. On average, equities analysts forecast that Azul S.A. will post -0.81 EPS for the current fiscal year.

Institutional Trading of Azul

Several hedge funds have recently added to or reduced their stakes in AZUL. Inspire Advisors LLC grew its holdings in shares of Azul by 19.4% in the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after acquiring an additional 3,042 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Azul by 16.0% in the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after acquiring an additional 3,450 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Azul by 46.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock valued at $659,000 after acquiring an additional 21,549 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Azul in the 4th quarter valued at about $214,000. Finally, AXQ Capital LP bought a new position in shares of Azul in the 3rd quarter valued at about $205,000. Institutional investors and hedge funds 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.