Azul (NYSE:AZUL) Sets New 1-Year Low – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.57 and last traded at $1.58, with a volume of 586438 shares trading hands. The stock had previously closed at $1.64.

Analyst Ratings Changes

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

Azul Trading Up 2.1 %

The firm has a market cap of $701.92 million, a price-to-earnings ratio of -0.23 and a beta of 1.98. The company has a fifty day moving average price of $1.91 and a 200-day moving average price of $2.33.

Institutional Investors Weigh In On Azul

Several hedge funds have recently bought and sold shares of AZUL. Centiva Capital LP lifted its stake in shares of Azul by 205.3% in the 3rd quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after purchasing an additional 135,365 shares during the period. Jane Street Group LLC increased its holdings in Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after buying an additional 75,291 shares in the last quarter. XTX Topco Ltd purchased a new position in Azul in the third quarter valued at $614,000. Perpetual Ltd raised its position in shares of Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after acquiring an additional 119,023 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Azul by 16.3% during the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after acquiring an additional 8,899 shares in the last quarter. Hedge funds and other 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.