Azul (NYSE:AZUL) Stock Price Down 5.7% – Should You Sell?

Azul S.A. (NYSE:AZUL)’s share price traded down 5.7% during trading on Thursday . The stock traded as low as $2.14 and last traded at $2.14. 285,690 shares traded hands during trading, a decline of 85% from the average session volume of 1,937,534 shares. The stock had previously closed at $2.27.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $6.70 to $4.00 in a research report on Monday, September 23rd. Finally, HSBC lowered 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. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.59.

Azul Trading Down 2.2 %

The company has a market cap of $862.11 million, a P/E ratio of -0.29 and a beta of 1.92. The company’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.58.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Planning bought a new position in Azul during the third quarter worth $35,000. Signaturefd LLC raised its holdings 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. Ground Swell Capital LLC bought a new position in shares of Azul in the 3rd quarter worth about $44,000. Sanctuary Advisors LLC acquired a new position in shares of Azul in the 2nd quarter valued at about $51,000. Finally, Inspire Advisors LLC grew its position in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after buying an additional 3,764 shares during the last quarter. 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.