Azul (NYSE:AZUL) Trading Up 5%

Azul S.A. (NYSE:AZUL) was up 5% during mid-day trading on Wednesday . The company traded as high as $4.38 and last traded at $4.38. Approximately 160,768 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,672,548 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

AZUL has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Barclays dropped their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. cut shares of Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Azul presently has a consensus rating of “Hold” and a consensus price target of $9.60.

Azul Stock Up 3.8 %

The business has a 50 day moving average price of $4.38 and a 200 day moving average price of $5.96. The stock has a market cap of $1.83 billion, a P/E ratio of -1.80 and a beta of 2.00.

Azul (NYSE:AZUL) last announced its quarterly earnings data on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The business had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same quarter in the previous year, the business earned ($0.81) earnings per share. On average, research analysts expect that Azul S.A. will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Azul

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after purchasing an additional 2,812 shares during the period. Inspire Advisors LLC raised its position in 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 purchasing an additional 3,764 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Azul by 9.5% in 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 during the period. Aigen Investment Management LP bought a new position in shares of Azul during the 4th quarter worth $214,000. Finally, Quantbot Technologies LP increased its stake in shares of Azul by 310.0% during the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after buying an additional 24,054 shares during the period. 0.82% of the stock is currently owned by 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.