Azul (NYSE:AZUL) Sets New 12-Month Low – Here’s What Happened

Azul S.A. (NYSE:AZUL) reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.57 and last traded at $1.58, with a volume of 586438 shares trading hands. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

AZUL has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Raymond James dropped their price objective on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Finally, Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.36.

Azul Stock Down 2.7 %

The stock has a market cap of $672.41 million, a price-to-earnings ratio of -0.22 and a beta of 1.98. The stock’s fifty day moving average is $1.95 and its 200-day moving average is $2.35.

Hedge Funds Weigh In On Azul

Institutional investors and hedge funds have recently made changes to their positions in the company. Trellis Wealth Advisors LLC acquired a new position in Azul in the fourth quarter valued at about $32,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Azul during the 4th quarter valued at about $42,000. Two Sigma Securities LLC grew its position in shares of Azul by 44.6% in the 4th quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock valued at $49,000 after purchasing an additional 9,038 shares during the period. Inspire Advisors LLC increased its stake in Azul by 16.6% during the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after purchasing an additional 6,844 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Azul during the 4th quarter worth approximately $87,000. Institutional investors and hedge funds 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.