Azul (NYSE:AZUL) Trading 7.3% Higher – Here’s Why

Shares of Azul S.A. (NYSE:AZUL) traded up 7.3% on Wednesday . The stock traded as high as $2.45 and last traded at $2.44. 445,578 shares traded hands during trading, a decline of 65% from the average session volume of 1,257,624 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AZUL shares. Seaport Res Ptn upgraded shares of Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.40.

Azul Price Performance

The company has a market capitalization of $997.01 million, a P/E ratio of -0.33 and a beta of 1.95. The company has a 50 day moving average of $2.12 and a 200-day moving average of $2.94.

Institutional Investors Weigh In On Azul

A number of large investors have recently modified their holdings of AZUL. Creative Planning purchased a new position in shares of Azul during the 3rd quarter worth approximately $35,000. Ground Swell Capital LLC purchased a new stake in shares of Azul in the 3rd quarter worth about $44,000. Sanctuary Advisors LLC bought a new position in shares of Azul in the 2nd quarter worth about $51,000. Inspire Advisors LLC lifted its position in Azul by 84.0% during the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after acquiring an additional 18,861 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in Azul during the third quarter worth about $306,000. Institutional investors own 0.82% of the company’s stock.

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.