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

Azul S.A. (NYSE:AZUL) gapped down before the market opened on Tuesday . The stock had previously closed at $2.33, but opened at $2.21. Azul shares last traded at $2.18, with a volume of 187,925 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZUL. The Goldman Sachs Group lowered their target price on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.40.

Azul Price Performance

The business’s 50 day moving average price is $2.15 and its 200 day moving average price is $3.02. The firm has a market cap of $992.80 million, a PE ratio of -0.33 and a beta of 1.95.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AZUL. Creative Planning purchased a new position in Azul during the third quarter worth about $35,000. Ground Swell Capital LLC purchased a new stake in shares of Azul during the 3rd quarter valued at approximately $44,000. Sanctuary Advisors LLC acquired a new position in Azul in the second quarter valued at approximately $51,000. Inspire Advisors LLC grew its position in Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after acquiring an additional 18,861 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Azul in the third quarter worth approximately $306,000. Hedge funds and other institutional investors 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.