Azul (NYSE:AZUL) Stock Price Up 7.3% – Time to Buy?

Azul S.A. (NYSE:AZUL)’s stock price rose 7.3% during mid-day trading on Wednesday . The stock traded as high as $2.45 and last traded at $2.44. Approximately 445,578 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,257,624 shares. The stock had previously closed at $2.27.

Wall Street Analyst Weigh In

AZUL has been the subject of several research reports. The Goldman Sachs Group reduced their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.40.

Azul Stock Up 4.2 %

The stock has a fifty day simple moving average of $2.12 and a 200 day simple moving average of $2.94. The firm has a market capitalization of $997.01 million, a P/E ratio of -0.33 and a beta of 1.95.

Institutional Investors Weigh In On Azul

Several institutional investors and hedge funds have recently modified their holdings of AZUL. SPX Gestao de Recursos Ltda raised its holdings in shares of Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after acquiring an additional 290,465 shares in the last quarter. Jane Street Group LLC increased its position in Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the last quarter. Marshall Wace LLP raised its stake in Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after purchasing an additional 575,344 shares in the last quarter. Perpetual Ltd grew its stake in shares of Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after buying an additional 119,023 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Azul in the 3rd quarter worth about $35,000. Institutional investors own 0.82% of the company’s stock.

Azul Company Profile

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.