Azul (NYSE:AZUL) Shares Gap Down – Here’s Why

Shares of 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on AZUL shares. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price objective on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.40.

Azul Stock Performance

The firm has a market cap of $912.70 million, a price-to-earnings ratio of -0.30 and a beta of 1.95. The stock’s fifty day moving average is $2.16 and its two-hundred day moving average is $3.04.

Institutional Investors Weigh In On Azul

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP increased its position in Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after purchasing an additional 575,344 shares during the last quarter. Long Focus Capital Management LLC grew its stake in Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after buying an additional 2,295,000 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in shares of Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Azul in the 2nd quarter worth approximately $51,000. Finally, Perpetual Ltd raised its stake in Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after purchasing an additional 100,639 shares during the last quarter. 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.