Azul (NYSE:AZUL) Stock Price Down 9.4% – Here’s What Happened

Shares of Azul S.A. (NYSE:AZUL) fell 9.4% during trading on Tuesday . The company traded as low as $1.49 and last traded at $1.50. 1,898,457 shares were traded during trading, an increase of 3% from the average session volume of 1,837,347 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AZUL shares. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Raymond James dropped their price target on Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group lowered their price objective on Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Azul has a consensus rating of “Hold” and an average target price of $5.36.

Azul Trading Up 0.2 %

The company’s 50 day simple moving average is $1.74 and its 200-day simple moving average is $2.22. The firm has a market cap of $650.48 million, a P/E ratio of -0.22 and a beta of 1.59.

Institutional Investors Weigh In On Azul

A number of large investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC grew its holdings in shares of Azul by 16.6% in the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after acquiring an additional 6,844 shares during the period. Van ECK Associates Corp increased its holdings in Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after buying an additional 8,899 shares during the last quarter. Two Sigma Securities LLC boosted its stake in shares of Azul by 44.6% during the 4th quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after acquiring an additional 9,038 shares during the last quarter. Trellis Wealth Advisors LLC purchased a new position in shares of Azul during the 4th quarter worth $32,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Azul during the 4th quarter valued at $42,000. Institutional investors own 0.82% of the company’s stock.

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.