Azul (NYSE:AZUL) Stock Price Up 3.2% – Here’s Why

Azul S.A. (NYSE:AZUL)’s share price traded up 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.78 and last traded at $1.78. 261,583 shares traded hands during trading, a decline of 86% from the average session volume of 1,902,011 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Raymond James lowered their price objective on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their price objective on Azul from $2.70 to $2.40 and set a “neutral” rating on the stock in a report on Tuesday. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.36.

Azul Price Performance

The company has a market cap of $709.50 million, a price-to-earnings ratio of -0.24 and a beta of 1.98. The business’s fifty day moving average price is $1.98 and its 200 day moving average price is $2.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trellis Wealth Advisors LLC acquired a new stake in shares of Azul in the fourth quarter valued at about $32,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Azul in the fourth quarter worth approximately $42,000. Two Sigma Securities LLC boosted its holdings in Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after acquiring an additional 9,038 shares during the last quarter. Inspire Advisors LLC increased its position in Azul by 16.6% during the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock valued at $80,000 after purchasing an additional 6,844 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Azul during the 4th quarter valued at approximately $87,000. 0.82% of the stock is owned by institutional investors and hedge funds.

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.