Azul (NYSE:AZUL) Shares Gap Down – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $2.57, but opened at $2.51. Azul shares last traded at $2.56, with a volume of 178,402 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research report on Thursday, September 5th. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a report on Thursday, September 5th. Barclays dropped their price objective on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday, August 19th. The Goldman Sachs Group lowered shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.70 to $4.00 in a report on Monday, September 23rd. Finally, Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Stock Down 0.4 %

The business has a fifty day moving average price of $2.98 and a 200 day moving average price of $4.01.

Institutional Investors Weigh In On Azul

Several hedge funds have recently modified their holdings of the stock. Coronation Fund Managers Ltd. grew its position in Azul by 9.5% in the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after acquiring an additional 2,380 shares in the last quarter. Signaturefd LLC increased its stake in Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the period. Inspire Advisors LLC lifted its holdings in Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 shares in the last quarter. Marshall Wace LLP boosted its position in Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares during the last quarter. Finally, Long Focus Capital Management LLC grew its stake in shares of Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares in the last quarter. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.