Azul (NYSE:AZUL) Shares Gap Down to $6.05

Azul S.A. (NYSE:AZUL) gapped down before the market opened on Thursday . The stock had previously closed at $6.05, but opened at $5.77. Azul shares last traded at $5.69, with a volume of 654,621 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $9.50 price target (down previously from $18.00) on shares of Azul in a research report on Thursday. Barclays reduced their price target on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, April 1st. Finally, Raymond James reaffirmed an “outperform” rating and set a $12.00 price target (down previously from $13.00) on shares of Azul in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.26.

Azul Trading Down 3.6 %

The stock has a 50 day moving average of $7.53 and a 200-day moving average of $8.42. The company has a market capitalization of $2.46 billion, a P/E ratio of -6.08 and a beta of 1.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZUL. US Bancorp DE boosted its stake in Azul by 721.4% in the 2nd quarter. US Bancorp DE now owns 1,922 shares of the company’s stock worth $26,000 after purchasing an additional 1,688 shares during the period. Advisor Group Holdings Inc. boosted its stake in Azul by 83.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock worth $151,000 after purchasing an additional 1,200 shares during the period. Tower Research Capital LLC TRC boosted its stake in Azul by 3,578.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the period. UBS Group AG boosted its stake in Azul by 930.7% in the 2nd quarter. UBS Group AG now owns 3,628 shares of the company’s stock worth $26,000 after purchasing an additional 3,276 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Azul by 66.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock worth $42,000 after purchasing an additional 2,000 shares during the period. 0.82% of the stock is currently owned by institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.