Azul (NYSE:AZUL) Reaches New 1-Year Low – Here’s Why

Shares of Azul S.A. (NYSE:AZUL) hit a new 52-week low on Monday . The company traded as low as $2.02 and last traded at $2.05, with a volume of 73903 shares traded. The stock had previously closed at $2.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AZUL shares. The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.70 to $4.00 in a report on Monday, September 23rd. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a report on Thursday, September 5th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, HSBC downgraded shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.59.

Azul Stock Performance

The stock has a market cap of $836.82 million, a P/E ratio of -0.28 and a beta of 1.92. The firm’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $3.53.

Hedge Funds Weigh In On Azul

Hedge funds and other institutional investors have recently bought and sold shares of the company. SPX Gestao de Recursos Ltda grew its holdings in 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 during the period. Long Focus Capital Management LLC grew its stake in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after purchasing an additional 2,295,000 shares during the period. Marshall Wace LLP increased its holdings in Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after purchasing an additional 575,344 shares in the last quarter. Creative Planning acquired a new position in Azul in the third quarter valued at approximately $35,000. Finally, Perpetual Ltd boosted its holdings in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after buying an additional 100,639 shares in the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

About Azul

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.