Azul (NYSE:AZUL) Trading Up 6.6% – Here’s What Happened

Shares of Azul S.A. (NYSE:AZUL) traded up 6.6% during mid-day trading on Wednesday . The stock traded as high as $2.36 and last traded at $2.34. 158,175 shares were traded during trading, a decline of 87% from the average session volume of 1,181,243 shares. The stock had previously closed at $2.19.

Analyst Ratings Changes

Several brokerages have weighed in on AZUL. The Goldman Sachs Group decreased their price objective on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Seaport Res Ptn raised Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Azul currently has an average rating of “Hold” and an average target price of $6.40.

Azul Stock Performance

The business’s 50-day simple moving average is $2.15 and its 200-day simple moving average is $3.02. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -0.34 and a beta of 1.95.

Hedge Funds Weigh In On Azul

Institutional investors have recently modified their holdings of the stock. Creative Planning bought a new stake in Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC bought a new position in Azul during the third quarter worth about $44,000. Sanctuary Advisors LLC acquired a new position in Azul in the second quarter valued at about $51,000. Inspire Advisors LLC increased its holdings in shares of Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after acquiring an additional 18,861 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Azul by 58.9% during 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 period. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.