Azul (NYSE:AZUL) Shares Gap Down to $6.05

Azul S.A. (NYSE:AZUL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $6.05, but opened at $5.77. Azul shares last traded at $5.69, with a volume of 654,621 shares.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America reiterated an “underperform” rating and issued a $9.50 target price (down previously from $18.00) on shares of Azul in a report on Thursday. Raymond James reiterated an “outperform” rating and issued a $12.00 target price (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. Finally, Barclays dropped their price objective on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.26.

Azul Stock Performance

The stock has a fifty day moving average of $7.47 and a 200-day moving average of $8.39. The company has a market cap of $2.44 billion, a PE ratio of -6.21 and a beta of 1.85.

Hedge Funds Weigh In On Azul

A number of large investors have recently bought and sold shares of AZUL. Capital Research Global Investors lifted its holdings in shares of Azul by 3.0% in the 1st quarter. Capital Research Global Investors now owns 13,032,134 shares of the company’s stock worth $196,134,000 after buying an additional 374,935 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of Azul by 296.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 4,384,995 shares of the company’s stock worth $31,353,000 after buying an additional 3,280,010 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Azul by 551.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company’s stock worth $14,296,000 after buying an additional 1,980,852 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Azul by 293.1% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company’s stock worth $7,441,000 after buying an additional 775,936 shares during the period. Finally, U S Global Investors Inc. lifted its holdings in shares of Azul by 23.9% in the 3rd quarter. U S Global Investors Inc. now owns 892,462 shares of the company’s stock worth $7,666,000 after buying an additional 172,348 shares during the period. Hedge funds and other institutional investors 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.