Shares of Azul S.A. (NYSE:AZUL) shot up 5% on Tuesday . The company traded as high as $24.08 and last traded at $23.93. 1,491,692 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 1,321,100 shares. The stock had previously closed at $22.79.

A number of brokerages have weighed in on AZUL. Seaport Global Securities lowered Azul from a “buy” rating to a “neutral” rating in a report on Wednesday, February 17th. Deutsche Bank Aktiengesellschaft lowered Azul from a “buy” rating to a “hold” rating in a report on Thursday, January 28th. Santander lowered Azul from a “buy” rating to a “hold” rating in a report on Monday, December 21st. Finally, Raymond James lowered Azul from an “outperform” rating to a “market perform” rating in a report on Thursday, December 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.38.

The stock has a market capitalization of $10.04 billion, a PE ratio of -1.58 and a beta of 1.62. The firm’s fifty day moving average is $22.32 and its 200-day moving average is $17.87.

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in Azul by 146.3% in the 3rd quarter. Signaturefd LLC now owns 2,076 shares of the company’s stock valued at $27,000 after buying an additional 1,233 shares during the period. Sowell Financial Services LLC purchased a new stake in Azul in the 4th quarter valued at about $68,000. BNP Paribas Arbitrage SA raised its holdings in Azul by 16.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,707 shares of the company’s stock valued at $115,000 after buying an additional 1,252 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Azul in the 3rd quarter valued at about $183,000. Finally, Prelude Capital Management LLC purchased a new stake in Azul in the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 1.84% of the company’s stock.

About Azul (NYSE:AZUL)

Azul SA, together with its subsidiaries, provides passenger and cargo air transportation services in Brazil. As of December 31, 2019, it operated 916 daily flights to 116 destinations through a network of 249 non-stop routes with a fleet of 140 aircraft. The company is also involved in the aircraft financing, package holidays, loyalty programs, and investment fund activities.

Read More: What does an inverted yield curve signify?

Receive News & Ratings for Azul Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Azul and related companies with MarketBeat.com's FREE daily email newsletter.