Azul (NYSE:AZUL) Shares Gap Down – Should You Sell?

Azul S.A. (NYSE:AZUL) gapped down prior to trading on Tuesday . The stock had previously closed at $2.33, but opened at $2.21. Azul shares last traded at $2.18, with a volume of 187,925 shares changing hands.

Analysts Set New Price Targets

A number of research firms have commented on AZUL. Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lowered their target price on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Azul currently has an average rating of “Hold” and a consensus target price of $6.40.

Azul Stock Down 4.3 %

The stock has a 50-day moving average price of $2.15 and a 200 day moving average price of $3.02. The firm has a market capitalization of $992.80 million, a price-to-earnings ratio of -0.33 and a beta of 1.95.

Institutional Investors Weigh In On Azul

Several institutional investors have recently modified their holdings of the company. Creative Planning purchased a new position in Azul in the third quarter valued at $35,000. Ground Swell Capital LLC acquired a new position in shares of Azul during the 3rd quarter worth about $44,000. Sanctuary Advisors LLC purchased a new position in shares of Azul in the 2nd quarter valued at about $51,000. Inspire Advisors LLC increased its holdings in shares of Azul by 84.0% in the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after acquiring an additional 18,861 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Azul during the third quarter worth approximately $306,000. 0.82% of the stock is owned by hedge funds and other institutional investors.

About Azul

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.