Azul (NYSE:AZUL) Shares Down 6.3% – Should You Sell?

Azul S.A. (NYSE:AZUL)’s share price dropped 6.3% during mid-day trading on Monday . The company traded as low as $2.25 and last traded at $2.31. Approximately 628,885 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 1,291,617 shares. The stock had previously closed at $2.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AZUL. The Goldman Sachs Group decreased their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Raymond James decreased their target price on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Azul has a consensus rating of “Hold” and a consensus price target of $5.40.

Azul Trading Down 7.8 %

The company’s 50-day moving average is $2.09 and its 200-day moving average is $2.85. The firm has a market cap of $870.54 million, a price-to-earnings ratio of -0.29 and a beta of 1.99.

Institutional Investors Weigh In On Azul

Several institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in Azul in the 2nd quarter valued at $51,000. Perpetual Ltd grew its holdings in shares of Azul by 4.5% in the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after purchasing an additional 100,639 shares during the last quarter. Creative Planning purchased a new stake in shares of Azul during the third quarter worth about $35,000. Kapitalo Investimentos Ltda bought a new position in shares of Azul during the third quarter valued at approximately $306,000. Finally, Inspire Advisors LLC boosted its stake in shares of Azul by 84.0% during the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after purchasing an additional 18,861 shares in the last quarter. 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.