Azul (NYSE:AZUL) Trading Down 6.1% – Time to Sell?

Azul S.A. (NYSE:AZULGet Free Report)’s share price fell 6.1% during trading on Thursday . The company traded as low as $3.06 and last traded at $3.09. 2,382,682 shares changed hands during trading, an increase of 17% from the average session volume of 2,042,605 shares. The stock had previously closed at $3.29.

Wall Street Analysts Forecast Growth

AZUL has been the subject of a number of analyst reports. Hsbc Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reduced their price target 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. HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 target price on the stock. in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays reduced their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.59.

Read Our Latest Report on Azul

Azul Trading Down 7.3 %

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -1.26 and a beta of 1.98. The business’s 50-day simple moving average is $3.37 and its two-hundred day simple moving average is $4.84.

Azul (NYSE:AZULGet Free Report) last announced its earnings results on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The company had revenue of $800.65 million for the quarter, compared to analyst estimates of $791.43 million. During the same period in the previous year, the company earned ($0.81) earnings per share. On average, analysts forecast that Azul S.A. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Several institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares during the period. Sanctuary Advisors LLC bought a new stake in Azul in the 2nd quarter worth about $51,000. Inspire Advisors LLC grew its position in Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of Azul by 9.5% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after buying an additional 2,380 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after buying an additional 24,054 shares during the last quarter. Institutional investors own 0.82% of the company’s stock.

About Azul

(Get Free Report)

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.

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