Azul (NYSE:AZUL) Sets New 52-Week Low at $5.66

Azul S.A. (NYSE:AZUL) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.66 and last traded at $5.69, with a volume of 1175502 shares trading hands. The stock had previously closed at $6.26.

Analysts Set New Price Targets

AZUL has been the subject of several research reports. Raymond James reissued an “outperform” rating and set a $12.00 price objective (down from $13.00) on shares of Azul in a research note on Monday. Barclays reduced their target price on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Azul presently has a consensus rating of “Moderate Buy” and an average target price of $12.56.

Azul Stock Performance

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -6.51 and a beta of 1.85. The company’s fifty day moving average is $7.53 and its two-hundred day moving average is $8.42.

Hedge Funds Weigh In On Azul

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings 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 buying an additional 1,688 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings 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 buying an additional 1,200 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 3,400 shares in the last quarter. UBS Group AG lifted its holdings 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 buying an additional 3,276 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings 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 buying an additional 2,000 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 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.