Azul (NYSE:AZUL) Shares Up 6.6% – Time to Buy?

Azul S.A. (NYSE:AZUL)’s stock price shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $2.36 and last traded at $2.34. 158,175 shares changed hands during trading, a decline of 87% from the average session volume of 1,181,243 shares. The stock had previously closed at $2.19.

Analyst Ratings Changes

Several research firms recently issued reports on AZUL. Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group lowered their price objective on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.40.

Azul Trading Down 1.5 %

The business has a 50 day moving average of $2.14 and a two-hundred day moving average of $3.01. The firm has a market cap of $975.93 million, a P/E ratio of -0.33 and a beta of 1.95.

Hedge Funds Weigh In On Azul

A number of large investors have recently made changes to their positions in the company. Creative Planning bought a new position in Azul during the 3rd quarter worth $35,000. Ground Swell Capital LLC acquired a new stake in shares of Azul during the 3rd quarter worth $44,000. Sanctuary Advisors LLC bought a new position in shares of Azul in the second quarter worth $51,000. Inspire Advisors LLC raised its stake in Azul by 84.0% in the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after purchasing an additional 18,861 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Azul by 58.9% during the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the period. 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.